KARACHI: Pakistan foreign exchange reserves have eased by $12 million to $12.57 billion by week ended December 09, 2022, State Bank of Pakistan (SBP) said on Thursday.
(more…)Tag: Foreign Exchange Reserves
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Pakistan official forex reserves plunge multi years low to $6.72 billion
KARACHI: Pakistan official foreign exchange reserves have plunged to multi years low to $6.72 billion by week ended December 02, 2022.
The official reserves of State Bank of Pakistan (SBP) fell by $784 million to $6.715 billion by week ended December 02, 2022 when compared with $7.499 billion a week ago i.e. November 25, 2022.
Previously, the SBP reserves were seen at $7 billion in April 2014.
READ MORE: SBP foreign exchange reserves fall to $7.5 billion
The central bank said that during the week ended December 02, 2022, SBP reserves decreased by $ 784 million to $ 6,714.9 million.
This decline is on account of the payment of $1,000 million against maturing Pakistan International Sukuk and some other external debt repayments.
READ MORE: Pakistan official reserves fall to around 1 ½ months import coverage
Some of the debt repayments were offset by inflows, mainly $500 million received from Asian Infrastructure Investment Bank (AIIB), the SBP added.
The import bill of the country was at $5.24 billion in November 2022, according to Pakistan Bureau of Statistics (PBS). For the month import bill the existing foreign exchange reserves of the SBP have reduced to cover only 1.47 months import payment.
READ MORE: Pakistan forex reserves inch up to $13.796 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 $13.431 billion.
The total reserves of the country fell by $796 million to $12.582 billion by week ended December 02, 2022 as compared with $13.378 billion a week ago.
READ MORE: Pakistan FX reserves slip sharply by $958 mn on external payments
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 $14.646 billion.
The foreign exchange reserves held by commercial banks also recorded a decline of $12 million to $5.867 billion by week ended December 01, 2022 as compared with $5.879 billion a week ago.
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SBP foreign exchange reserves fall to $7.5 billion
KARACHI: Official foreign exchange reserves of State Bank of Pakistan (SBP) have declined by $327 million by week ended November 25, 2022 leaving import cover of only one and half months.
The official foreign exchange reserves of the SBP fell by $327 million to $7.499 billion by week ended November 25, 2022 as compared with $7.826 billion a week ago.
READ MORE: Pakistan official reserves fall to around 1 ½ months import coverage
The import bill of the country was at $4.71 billion in October 2022, according to Pakistan Bureau of Statistics (PBS). According to the month import bill the existing foreign exchange reserves of the SBP have reduced to cover only 1.56 months import payment.
The central bank attributed the decline in official reserves to repayment against external debt.
READ MORE: Pakistan forex reserves inch up to $13.796 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 $12.647 billion.
It is pertinent to mention that the SBP’s reserves witnessed sizeable increase after inflows from the Asian Development Bank (ADB) $1.5 billion on October 26, 2022.
READ MORE: Pakistan FX reserves slip sharply by $958 mn on external payments
The total reserves of the country fell by $267 million to $13.378 billion by week ended November 25, 2022 as compared with $13.645 billion a week ago.
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 $13.850 billion.
READ MORE: SBP’s weekly forex reserves dip by $157 million to $7.44 billion
The foreign exchange reserves held by commercial banks however, recorded an increase of $60 million to $5.879 billion by week ended November 25, 2022 as compared with $5.819 billion a week ago.
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Pakistan official reserves fall to around 1 ½ months import coverage
KARACHI: Pakistan’s official foreign exchange reserves have declined significantly, now covering only one and a half months of import payments, as per data released by the State Bank of Pakistan (SBP) on Thursday.
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Pakistan forex reserves inch up to $13.796 billion
KARACHI: Foreign exchange (forex) reserves of Pakistan inched up by $75 million to $13.796 billion by week ended November 11, 2022, State Bank of Pakistan (SBP) said on Thursday.
The foreign exchange reserves of the country were at $13.721 billion a week ago i.e. November 04, 2022.
READ MORE: Pakistan FX reserves slip sharply by $958 mn on external payments
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 $13.432 billion.
The official foreign exchange reserves of the State Bank nominally increased by $3 million to 7.96 billion by week ended November 11, 2022 as compared with $7.957 billion a week ago.
READ MORE: SBP’s weekly forex reserves dip by $157 million to $7.44 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 $12.185 billion.
READ MORE: Pakistan’s weekly forex reserves increase nominally
It is pertinent to mention that the SBP’s reserves witnessed sizeable increase a week ago after the Asian Development Bank (ADB) released the fund amounting $1.5 billion to Pakistan on October 26, 2022.
The foreign exchange reserves held by commercial banks recorded an increase of $72 million to $5.836 billion by week ended November 11, 2022 as compared with $5.764 billion a week ago.
READ MORE: Pakistan’s forex reserves continue to fall; deplete to $13.25 billion
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Pakistan FX reserves slip sharply by $958 mn on external payments
KARACHI: Pakistan foreign exchange reserves slipped sharply by $958 million by week ended November 08, 2022 owing to external payments, State Bank of Pakistan (SBP) said on Thursday.
The foreign exchange reserves of the country have been recorded at $13.721 billion by week ended November 04, 2022 as compared with $14.679 billion a week ago i.e. October 28, 2022.
READ MORE: Pakistan FX reserves rise to $14.69 billion after ADB transfer
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 $13.507 billion.
The official foreign exchange reserves of the State Bank plunged by $958 million to $7.957 billion by week ended November 04, 2022 as compared with $8.913 billion a week ago.
READ MORE: SBP’s weekly forex reserves dip by $157 million to $7.44 billion
The SBP attributed the decline to external debt servicing. “Major external debt repayments executed during the week includes repayment of government commercial loans. Refinancing of these loans is in process which will improve foreign exchange reserves in coming weeks,” the central bank added.
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 $12.189 billion.
READ MORE: Pakistan’s weekly forex reserves increase nominally
It is pertinent to mention that the SBP’s reserves witnessed sizeable increase a week ago after the Asian Development Bank (ADB) released the fund amounting $1.5 billion to Pakistan on October 26, 2022.
The foreign exchange reserves held by commercial banks flat at $5.764 billion by week ended November 04, 2022 when compared with $5.766 billion a week ago.
READ MORE: Pakistan’s forex reserves continue to fall; deplete to $13.25 billion
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Pakistan FX reserves rise to $14.69 billion after ADB transfer
KARACHI: Pakistan foreign exchange reserves have increased by $1.527 billion to $14.69 billion by week ended October 28, 2022 after transfer of funds from Asian Development Bank (ADB).
The country’s foreign exchange reserves increased to $14.689 billion by week ended October 28, 2022 as compared with $13.162 billion a week ago i.e. October 21, 2022, State Bank of Pakistan (SBP) said on Thursday.
READ MORE: SBP’s weekly forex reserves dip by $157 million to $7.44 billion
The ADB released the fund amounting $1.5 billion to Pakistan on October 26, 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 $12.539 billion.
The official foreign exchange reserves of the State Bank also increased by $1.473 billion to $8.913 billion by week ended October 28, 2022 when compared with $7.44 billion a week ago.
READ MORE: Pakistan’s weekly forex reserves increase nominally
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 $11.233 billion.
READ MORE: Pakistan’s forex reserves continue to fall; deplete to $13.25 billion
Previously, the central bank received $1.16 billion from the International Monetary Fund (IMF) under Extended Fund Facility (EFF) program, which increased the official reserves to $8.8 billion. But scheduled repayment gradually depleted the official reserves of the central bank.
READ MORE: Pakistan’s forex reserves decline to $13.59 billion
The foreign exchange held by commercial banks witnessed an increase of $44 million to $5.766 billion by week ended October 28, 2022 as against $5.722 billion a week ago.
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SBP’s weekly forex reserves dip by $157 million to $7.44 billion
KARACHI: The official weekly foreign exchange reserves of the State Bank of Pakistan (SBP) fell by $157 million to $7.44 billion by week ended October 21, 2022, the central bank said on Thursday.
The official foreign exchange reserves of the SBP were at $7.597 billion a week ago i.e. October 14, 2022.
READ MORE: Pakistan’s weekly forex reserves increase nominally
The central bank attributed the decline to external debt repayments.
SBP however said it h ad received $1.5 billion from Asian Development Bank (ADB) in value on October 26, 2022 as disbursement of loan for the Government of Pakistan. These proceeds will be reflected in SBP reserves for the week ending October 28, 2022.
READ MORE: Pakistan’s forex reserves continue to fall; deplete to $13.25 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 $12.706 billion.
Previously, the central bank received $1.16 billion from the International Monetary Fund (IMF) under Extended Fund Facility (EFF) program, which increased the official reserves to $8.8 billion. But scheduled repayment gradually depleted the official reserves of the central bank.
READ MORE: Pakistan’s forex reserves decline to $13.59 billion
The total foreign exchange reserves of the country fell by $89 million to $13.162 billion by week ended October 21, 2022 as compared with $13.251 billion a week ago.
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 $14.066 billion.
The foreign exchange held by commercial banks witnessed an increase of $68 million to $5.722 billion by week ended October 21, 2022 as against $5.654 billion a week ago.
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Pakistan’s weekly forex reserves increase nominally
Pakistan’s weekly foreign exchange reserves increased nominally to $13.251 billion by week ended October 14, 2022, State Bank of Pakistan (SBP) said on Thursday.
The country’s foreign exchange reserves were at $13.247 billion by a week ago i.e. October 7, 2022.
READ MORE: Pakistan’s forex reserves continue to fall; deplete to $13.25 billion
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 $13.977 billion.
The foreign exchange reserves of the SBP also remained unchanged at $7.597 billion by week ended October 14, 2022 as compared the level a week ago.
READ MORE: Pakistan’s forex reserves decline to $13.59 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 $12.549 billion.
Experts said that falling foreign exchange reserves would reverse the recent gain in value of the Pakistani Rupee (PKR). The PKR make a 13-session winning streak. The exchange rate reached to near record low of PKR 239.71 on September 22, 2022 to the dollar but ended at PKR 220.95 on October 20, 2022. Dar recently claimed that the actual value of the dollar is below PKR 200 and he vowed to bring it down.
READ MORE: State Bank’s forex reserves shrink to $8 billion
Earlier, SBP received US$ 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 increased marginally to $5.654 billion by week ended October 14, 2022 as compared with $5.65 billion a week ago.
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Pakistan’s forex reserves continue to fall; deplete to $13.25 billion
Pakistan’s foreign exchange reserves continued to decline and depleted by $342 million to $13.247 billion by week ended October 07, 2022, State Bank of Pakistan (SBP) said on Thursday.
The foreign exchange reserves of the country were at $13.589 billion a week ago i.e. September 30, 2022.
READ MORE: Pakistan’s forex reserves decline to $13.59 billion
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 $13.981 billion.
The foreign exchange reserves of the SBP also declined by $303 million to $7.597 billion by week ended October 07, 2022 as compared with $7.9 billion a week ago.
READ MORE: State Bank’s forex reserves shrink to $8 billion
The central attributed the decline to external debt repayments, which included repayment of a commercial loan and interest payment on Eurobonds
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 $12.549 billion.
READ MORE: Pakistan’s forex reserves slip to $14.07 billion
Experts said that falling foreign exchange reserves would reverse the recent gain in value of the Pakistani Rupee (PKR). The PKR make a 13-session winning streak. The exchange rate reached to near record low of PKR 239.71 on September 22, 2022 to the dollar but ended at PKR 217.79 on October 10, 2022. Dar recently claimed that the actual value of the dollar is below PKR 200 and he vowed to bring it down.
READ MORE: Pakistan FX reserves slip to $14.32 billion
Earlier this month, SBP received US$ 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 fell by $39 million to $5.65 billion by week ended October 06, 2022 as compared with $5.689 billion a week ago.