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.
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.
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
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.