Pakistan FX reserves slip to $14.32 billion

Pakistan FX reserves slip to $14.32 billion

KARACHI: The foreign exchange (FX) reserves of Pakistan have slipped by $156 million to $14.32 billion by week ended September 09, 2022, according to data released by the State Bank of Pakistan (SBP) on Thursday.

Total foreign exchange reserves of the country were at $14.473 billion a week ago i.e. September 02, 2022.

READ MORE: Pakistan’s FX reserves increase by $1.07bn after IMF inflows

The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $12.911 billion.

The official reserves of State Bank of Pakistan (SBP) also fell by $176 million to $8.624 billion by week ended September 9, 2022 as compared with $8.8 billion a week ago.

READ MORE: Pakistan FX reserves drop to $13.4 billion

The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP dropped by $12.522 billion.

Earlier this month, SBP received US$ 1,166 million from IMF under EFF program, which increased the official reserves to $8.8 billion

READ MORE: Pakistan’s forex reserves fall to $13.52 billion

The foreign exchange reserves held by commercial banks however increased by $20 million to $5.693 billion by week ended September 09, 2022 as compared with $5.673 billion a week ago.

READ MORE: Pakistan’s forex reserves increase by $52 million

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