Pakistan's foreign exchange reserves reach $9.34bn
Business
State Bank’s reserves increased by $533 million to $4,069.9m
KARACHI (APP) - The total liquid foreign reserves of Pakistan stood at $9,340.8 million whereas the reserves held by the State Bank of Pakistan have reached $4,069.9 million.
The State Bank of Pakistan, in a statement issued on Monday, informed that foreign reserves of the central bank reserves increased by $533m to $4,069.9m as of June 23, 2023.
Meanwhile, net foreign reserves held by commercial banks stood at $5,270.9m, it added.
The rise in SBP’s foreign exchange reserves was mainly attributed to realisation of $300m proceeds of GoP commercial loan, it added.
According to SBP spokesperson the central bank had received US$ 300 million proceeds of GoP commercial loan during the previous week but those inflows were incorporated in the latest reserves position report as of June 23, 2023.
In the previous week ending on June 16, 2023, total liquid foreign reserves hold by the country was $8,863.8m.
Among them foreign reserves held by the central bank were $3,536.9m, while net foreign reserves held by commercial banks were $5,326.9m.
