Tag: Foreign Exchange Reserves

KARACHI: The foreign exchange reserves of the State Bank of Pakistan (SBP) declined by $340 million to $8 billion by week ended September 23, 2022, according to a statement issued on Thursday.

The official foreign exchange reserves of the central bank were at $8.346 billion a week ago i.e. September 16, 2022.

READ MORE: Pakistan’s forex reserves slip to $14.07 billion

The SBP attributed the decline in foreign exchange reserves to external debt repayments.

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 $12.146 billion.

Experts said that falling foreign exchange reserves would reverse the recent gain in value of the Pakistani Rupee (PKR).

The PKR on Thursday continued its winning streak and gained PKR 10.08 against the dollar during past five straight sessions owing to assumption of Ishaq Dar the portfolio of the finance minister of the country.

READ MORE: Pakistan FX reserves slip to $14.32 billion

The exchange rate reached near to record low of PKR 239.71 on September 22, 2022 to the dollar but ended at PKR 229.63 on September 29, 2022.

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 FX reserves increase by $1.07bn after IMF inflows

The total liquid foreign exchange reserves of the country also fell by $308 million to $13.762 billion by week ended September 23, 2022 as compared with $14.07 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 $13.466 billion.

The foreign exchange reserves held by commercial banks however increased by $32 million to $5.756 billion by week ended September 23, 2022 as compared with $5.724 billion a week ago.

READ MORE: Pakistan FX reserves drop to $13.4 billion

KARACHI: Pakistan’s foreign exchange reserves slipped by $247 million to $14.07 billion by week ended September 16, 2022, State Bank of Pakistan (SBP) said on Thursday.

The total liquid foreign exchange reserves of the country were at $14.317 billion a week ago i.e. September 09, 2022.

READ MORE: Pakistan FX reserves slip to $14.32 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 $13.158 billion.

The SBP said that its official reserves also fell by $278 million to $8.346 billion by week ended September 16, 2022 as compared with $8.624 billion a week ago.

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

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 $11.71 billion.

Experts said that falling foreign exchange reserves would further pressurize the local currency, which was already near to the record low lever despite inflows received from the International Monetary Fund (IMF).

READ MORE: Pakistan FX reserves drop to $13.4 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 $31 million to $5.724 billion by week ended September 16, 2022 as compared with $5.693 billion a week ago.

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

KARACHI: Pakistan’s foreign exchange reserves have increased by $1.07 billion after the country received inflows from International Monetary Fund (IMF), a statement said on Thursday.

The foreign exchange reserves of Pakistan increased to $14.473 billion by week ended September 02, 2022 as compared with reserves position of $13.403 billion a week ago i.e. August 26, 2022.

READ MORE: Pakistan FX reserves drop to $13.4 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 $12.755 billion.

The official reserves of State Bank of Pakistan (SBP) also recorded an increase of $1.103 billion to $8.8 billion by week ended September 02, 2022 as compared with $7.697 billion a week ago.

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

During the week ended, SBP received US$ 1,166 million from IMF under EFF program. After accounting for external debt and other payments, SBP reserves increased by US$ 1,103 million to US$ 8,799.9 million.

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 $11.346 billion.

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

Previously, the SBP stated that it had received proceeds of $1.16 billion (equivalent of SDR 894 million) from IMF under the Extended Fund Facility (EFF) on August 31, 2022 which would be included in SBP’s foreign exchange reserve position for the week ending on September 02, 2022.

The foreign exchange reserves held by commercial banks fell by $33 million to $5.673 billion by week ended September 02, 2022 as compared with $5.706 billion a week ago.

READ MORE: Pakistan’s reserves plunge 43-month low to $13.56 billion

KARACHI: Pakistan’s foreign exchange reserves fell by $91 million to $13.522 billion by week ended August 19, 2022, State Bank of Pakistan (SBP) said on Thursday.

The foreign exchange reserves of the country were at $13.613 billion a week ago i.e. August 12, 2022.

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

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 $13.703 billion.

The official foreign exchange reserves of the State Bank witnessed a decline of $87 million to $7.81 billion by week ended August 19, 2022 as against $7.897 billion a week ago.

READ MORE: Pakistan’s reserves plunge 43-month low to $13.56 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 declined by $12.336 billion.

The country is hoping to receive a $1.17 billion tranche under Extended Fund Facility (EFF) from the International Monetary Fund (IMF). This will help Pakistan to boost its foreign exchange reserves.

READ MORE: Pakistan’s foreign reserves dip to $14.21 billion

A meeting of IMF executive board is scheduled on August 29, 2022 to approve the tranche for the country.

The foreign exchange reserves held by commercial banks also slipped by $4 million to $5.712 billion by week ended August 19, 2022 when compared with $5.716 billion a week ago.

READ MORE: Pakistan forex reserves deplete to $14.42 billion

KARACHI: Pakistan’s foreign exchange reserves have declined 43-month low at $13.56 billion by week ended August 05, 2022.

The foreign exchange reserves of country fell by $648 million as those were $14.21 billion a week ago i.e. July 29, 2022, the State Bank of Pakistan (SBP) said on Thursday.

READ MORE: Pakistan’s foreign reserves dip to $14.21 billion

Pakistan’s foreign exchange reserves were seen at $13.597 billion on January 2019.

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 $13.668 billion.

The official reserves of the State Bank also fell by $556 million to $7.83 billion by week ended August 5, 2022 as compared with $8.386 billion a week ago.

READ MORE: Pakistan forex reserves deplete to $14.42 billion

The SBP attributed the decline in foreign exchange reserves to external debt repayments.

It is pertinent to mention that the SBP received about $2.3 billion from Chinese banks for buildup of foreign exchange reserves. However, despite receiving the amount the external debt payment kept the pressure on the reserves.

Further, the country is in negotiation with the IMF for release of next tranche under Extended Fund Facility (EFF) to boost its foreign exchange reserves.

READ MORE: Pakistan’s forex reserves decline to $15.24 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 declined by $12.316 billion.

The commercial banks held foreign exchange witnessed a decline of $92 million to $5.731 billion by week ended August 05, 2022 when compared with $5.82 billion a week ago.

READ MORE: Pakistan’s forex reserves drop to $15.61 billion

The sharp decline in foreign exchange reserves has resulted in free-fall of rupee value.

The local currency ended historic low of Rs239.94 to the dollar at closing of interbank foreign exchange market on July 28, 2022. However, on the hope of inflows from the IMF and improved indicators the rupee rebounded in the month of August 2022.

READ MORE: Pakistan’s forex reserves deplete to $15.74 billion

KARACHI: Pakistan’s foreign exchange reserves have declined by $207 million to $14.208 billion by week ended July 29, 2022, the State Bank of Pakistan (SBP) said on Thursday.

The foreign exchange reserves of the country were at $14.415 billion by week ended July 22, 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 $13.02 billion.

READ MORE: Pakistan forex reserves deplete to $14.42 billion

The official reserves of the State Bank also fell by $190 million to $8.8.385 billion by week ended July 29, 2022 as compared with $8.575 billion a week ago.

The SBP attributed the decline in foreign exchange reserves to external debt repayments.

It is pertinent to mention that the SBP received about $2.3 billion from Chinese banks for buildup of foreign exchange reserves. However, despite receiving the amount the external debt payment kept the pressure on the reserves.

READ MORE: Pakistan’s forex reserves decline to $15.24 billion

Further, the country is in negotiation with the IMF for release of next tranche under Extended Fund Facility (EFF) to boost its foreign exchange reserves.

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 declined by $11.761 billion.

READ MORE: Pakistan’s forex reserves drop to $15.61 billion

The commercial banks held foreign exchange witnessed a nominal decline of $17 million to $5.823 billion by week ended July 29, 2022 when compared with $5.84 billion a week ago.

The sharp decline in foreign exchange reserves has resulted in free-fall of rupee value.

The local currency ended historic low of Rs239.94 to the dollar at closing of interbank foreign exchange market on July 28, 2022.

READ MORE: Pakistan’s forex reserves deplete to $15.74 billion

KARACHI: Pakistan foreign exchange reserves depleted by $827 million to $14.415 billion by week ended July 22, 2022, State Bank of Pakistan (SBP) said on Thursday.

The foreign exchange reserves of the country were $15.242 billion a week ago i.e. July 15, 2022.

READ MORE: Pakistan’s forex reserves decline to $15.24 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 $12.813 billion.

The official reserves of the State Bank also fell by $754 million to $8.575 billion by week ended July 22, 2022 as compared with $9.329 billion a week ago.

READ MORE: Pakistan’s forex reserves drop to $15.61 billion

The SBP attributed the decline in foreign exchange reserves to external debt repayments.

It is pertinent to mention that the SBP received about $2.3 billion from Chinese banks for buildup of foreign exchange reserves. However, despite receiving the amount the external debt payment kept the pressure on the reserves.

Further, the country is in negotiation with the IMF for release of next tranche under Extended Fund Facility (EFF) to boost its foreign exchange reserves.

READ MORE: Pakistan’s forex reserves deplete to $15.74 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 declined by $10.571 billion.

The commercial banks held foreign exchange also witnessed a decline of $73 million to 5.84 billion by week ended July 22, 2022 when compared with $5.913 billion a week ago.

READ MORE: State Bank’s reserves dip to 32-month low at $8.238 billion

The sharp decline in foreign exchange reserves has resulted in free-fall of rupee value.

The local currency ended historic low of Rs239.94 to the dollar at closing of interbank foreign exchange market on July 28, 2022.