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Tag: Foreign Exchange Reserves

  • SBP’s weekly forex reserves dip by $157 million to $7.44 billion

    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.

    READ MORE: State Bank’s forex reserves shrink to $8 billion

  • Pakistan’s weekly forex reserves increase nominally

    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.

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

  • Pakistan’s forex reserves continue to fall; deplete to $13.25 billion

    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.

  • State Bank’s forex reserves shrink to $8 billion

    State Bank’s forex reserves shrink to $8 billion

    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

  • Pakistan’s forex reserves slip to $14.07 billion

    Pakistan’s forex reserves slip to $14.07 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

  • 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

  • Pakistan’s FX reserves increase by $1.07bn after IMF inflows

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

    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

  • Pakistan FX reserves drop to $13.4 billion

    Pakistan FX reserves drop to $13.4 billion

    KARACHI: The foreign exchange (FX) reserves of Pakistan have declined by $119 million to $13.40 billion by week ended August 26, 2022, the State Bank of Pakistan (SBP) said on Thursday.

    The foreign exchange reserves of the country were at $13.522 billion by week ended August 19, 2022.

    READ MORE: Pakistan’s forex reserves fall to $13.52 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 $13.825 billion.

    The official foreign exchange reserves of the State Bank witnessed a decline of $113 million to $7.697 billion by week ended August 26, 2022 as against $7.810 billion a week ago.

    READ MORE: Pakistan’s forex reserves increase by $52 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 $12.449 billion.

    The central bank said 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.

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

    The SBP received the tranche after the IMF executive board approved the seventh and eighth reviews in its meeting held on August 29, 2022.

    The foreign exchange reserves held by commercial banks also slipped by $6 million to $5.706 billion by week ended August 26, 2022 when compared with $5.712 billion a week ago.

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

  • Pakistan’s forex reserves fall to $13.52 billion

    Pakistan’s forex reserves fall to $13.52 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

  • Pakistan’s forex reserves increase by $52 million

    Pakistan’s forex reserves increase by $52 million

    KARACHI: Pakistan’s foreign exchange reserves have increased by $52 million by week ended August 12, 2022, State Bank of Pakistan (SBP) said on Thursday.

    The foreign exchange reserves of the country have recorded at $13.613 billion by week ended August 12, 2022 as compared with $13.561 billion a week ago i.e. August 05, 2022.

    READ MORE: Pakistan’s reserves plunge 43-month low to $13.56 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 $13.615 billion.

    The official foreign exchange reserves of the State Bank witnessed an increase of $67 million to $7.897 billion by week ended August 12, 2022 as compared with $7.83 billion a week ago.

    READ MORE: Pakistan’s foreign reserves dip to $14.21 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 $12.249 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 forex reserves deplete to $14.42 billion

    A meeting of IMF executive board is likely by month-end to approve the tranche for the country.

    However, foreign exchange reserves held by commercial banks slipped by $15 million to $5.716 billion by week ended August 12, 2022 when compared with $5.731 billion a week ago.

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