Tag: Foreign Exchange Reserves

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.

KARACHI: Pakistan’s foreign exchange reserves have declined by $368 million to $15.242 billion by week ended July 15, 2022, State Bank of Pakistan (SBP) said on Thursday.

The foreign exchange reserves of the country were $15.61 billion a week ago i.e. July 07, 2022.

READ MORE: Pakistan’s forex reserves drop to $15.61 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 $11.986 billion.

The official reserves of the State Bank also depleted by $388 billion to $9.329 billion by week ended July 15, 2022 as compared with $9.717 billion a week ago.

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

READ MORE: State Bank’s reserves dip to 32-month low at $8.238 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 $10.817 billion.

The commercial banks held foreign exchange increased to $5.913 billion by week ended July 15, 2022 when compared with $5.893 billion a week ago, showing a rise of $20 million.

READ MORE: Pakistan’s central bank reserves shrink to one month import cover

KARACHI: The foreign exchange reserves of Pakistan have depleted by $454 million to $15.742 billion by week ended June 30, 2022, State Bank of Pakistan (SBP) said on Thursday.

The foreign exchange reserves of the country were at $16.196 billion a week ago i.e. June 24, 2022.

READ MORE: State Bank’s reserves dip to 32-month low at $8.238 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 $11.486 billion.

The official reserves of the State Bank also recorded a decline of $493 million to $9.816 billion by week ended June 30, 2022 as compared with $10.309 billion a week ago.

READ MORE: Pakistan’s central bank reserves shrink to one month import cover

The central bank 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: SBP’s forex reserves slip 2½-year low to $9.226 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 $10.33 billion.

The commercial banks held foreign exchange to the tune of $5.926 billion by week ended June 30, 2022 when compared with $5.887 billion a week ago, showing an increase of $59 million.

READ MORE: SBP’s forex reserves fall two-year low to $9.72 billion

KARACHI: The official foreign exchange reserves of State Bank of Pakistan (SBP) have decreased around 32-month low at $8.238 billion by week ended June 17, 2022, official data revealed on Thursday.

The official reserves of the central bank fell by $747 million to $8.238 billion by week ended June 17, 2022 as compared with $8.985 billion by week ended June 10, 2022.

Previously, the foreign exchange reserves of the SBP were seen on November 01, 2019 when those were at $8.358 billion.

READ MORE: Pakistan’s central bank reserves shrink to one month import cover

Considering the current official reserves of the State Bank at $8.238 billion, the import cover is only for 1.21 months.

The central bank attributed the decline in foreign exchange reserves for external debt repayments. However, SBP reserves are expected to increase in coming days on realization of proceeds of China Development Bank (CDB) loan, 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.

READ MORE: SBP’s forex reserves slip 2½-year low to $9.226 billion

Since touching the peak the central bank’s foreign exchange witnessed a continuous decline. The official reserves of the SBP fell around $11.91 billion by week ended June 17, 2022 from touching the peak on August 27, 2021.

The country is facing serious balance of payment crisis during the past many months. The foreign exchange reserves of the central bank have seen a constant decline.

The falling foreign exchange reserves also put pressure on the local currency. The Pakistani Rupee (PKR) is also depreciating to record low against the US dollar on daily basis.

The total foreign exchange reserves of Pakistan have declined to around three-year low at $14.21 billion by week ended June 17, 2022. Previously, the foreign exchange reserves of the country were seen at $14.259 billion by week ended July 5, 2019.

READ MORE: SBP’s forex reserves fall two-year low to $9.72 billion

The country’s foreign exchange reserves have fallen by $733 million to $14.21 billion by week ended June 17, 2022 as compared with $14.943 billion a week ago i.e. June 10, 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 $13.018 billion.

The foreign exchange held by commercial banks however slightly up by $14 million to $5.972 billion by week ended June 17, 2022 as compared with $5.958 billion a week ago.

READ MORE: Moody’s changes Pakistan’s outlook to negative

KARACHI: The official reserves of Pakistan’s central bank have declined to provide about one month import cover, according to official data released on Thursday.

The official foreign exchange reserves of the State Bank of Pakistan (SBP) fell by $241 million to $8.985 billion by week ended June 10, 2022 as compared with $9.226 billion a week ago i.e. June 03, 2022.

READ MORE: SBP’s forex reserves slip 2½-year low to $9.226 billion

The present level of the SBP’s reserves showed that the central bank has import cover for around only one months.

Pakistan’s import bill for the month of May 2022 recorded at $6.777 billion, according to Pakistan Bureau of Statistics (PBS).

The latest foreign exchange reserves of the SBP showed it fell around 2½ years low. Previously, the foreign exchange reserves held by the central bank were seen at $9.233 billion on December 6, 2019.

The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021.

READ MORE: SBP’s forex reserves fall two-year low to $9.72 billion

Since touching the peak the central bank’s foreign exchange witnessed a continuous decline. The official reserves of the SBP fell around $11.16 billion by week ended June 10, 2022 from touching the peak on August 27, 2021.

The country is facing serious balance of payment crisis during the past many months. The foreign exchange reserves of the central bank have seen a constant decline.

The falling foreign exchange reserves also put pressure on the local currency. The Pakistani Rupee (PKR) is also depreciating to record low against the US dollar on daily basis.

The rupee fell to a fresh historic low at Rs207.67 to the dollar at interbank foreign exchange closing on June 16, 2022.

READ MORE: Moody’s changes Pakistan’s outlook to negative

The country was expecting inflows from various sources but so far those were not materialized so far. The country also making all efforts to resume IMF program to obtain about $ 1 billion next tranche under Extended Fund Facility (EFF).

The total foreign exchange reserves of Pakistan have declined to around three-year low at $14.94 billion by week ended June 10, 2022. Previously, the foreign exchange reserves of the country were seen at $14.86 billion by week ended July 19, 2019.

The country’s foreign exchange reserves have fallen by $233 million to $14.943 billion by week ended June 10, 2022 as compared with $15.176 billion a week ago i.e. June 03, 2022.

READ MORE: Pakistan’s headline inflation up by 13.8% in May 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 $12.285 billion.

The foreign exchange held by commercial banks however slightly up by $8 million to $5.958 billion by week ended June 10, 2022 as compared with $9.226 billion a week ago.

KARACHI: The official foreign exchange reserves of the State Bank of Pakistan (SBP) have slipped 2½-year low to $9.226 billion by week ended June 03, 2022, according to official statistics released on Thursday.

On weekly basis the official reserves of the central bank fell by $497 million to $9.226 billion by week ended June 03, 2022 as compared with $9.723 billion a week ago i.e. May 27, 2022.

READ MORE: SBP’s forex reserves fall two-year low to $9.72 billion

The State Bank said that its foreign exchange reserves were declined due to external debt repayment.

Previously, the foreign exchange reserves held by the central bank were seen at $9.233 billion on December 6, 2019.

The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since touching the peak the central bank’s foreign exchange witnessed a continuous decline. The official reserves of the SBP fell around $10.92 billion by week ended June 03, 2022 from touching the peak on August 27, 2021.

READ MORE: Moody’s changes Pakistan’s outlook to negative

Overall the foreign exchange reserves of the country declined by $595 million to $15.176 billion by week ended June 03, 2022 as compared with $15.771 billion a week ago.

READ MORE: Pakistan’s headline inflation up by 13.8% in May 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 $12.052 billion.

The foreign exchange held by commercial banks also fell by $98 million to $5.95 billion by week ended June 03, 2022 as compared with $6.048 billion a week ago.

READ MORE: Raw materials excluded from import banned items list

KARACHI: The official foreign exchange reserves of the State Bank of Pakistan (SBP) fell two years low to $9.72 billion by week ended May 27, 2022, a statement said on Thursday.

The SBP foreign exchange reserves were at $10.089 billion a week ago i.e. May 20, 2022. The central bank said that its reserves were decreased by $366 million to $ 9.723 billion due to external debt repayment.

READ MORE: Moody’s changes Pakistan’s outlook to negative

The SBP’s foreign exchange reserves were at $9.96 billion on June 19, 2020.

The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since touching the peak the central bank’s foreign exchange witnessed a continuous decline. The official reserves of the SBP fell around $10.423 billion by week ended May 27, 2022 from touching the peak on August 27, 2021.

READ MORE: Pakistan’s headline inflation up by 13.8% in May 2022

The official reserves of the SBP also reduced to payment for 1.46 months for import cover.

Overall the foreign exchange reserves of the country declined by $379 million to $15.771 billion by week ended May 27, 2022 as compared with $16.150 billion a week ago.

READ MORE: Raw materials excluded from import banned items list

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 $11.547 billion.

The foreign exchange held by commercial banks witnessed a slight decline of $13 million to $6.048 billion by week ended May 27, 2022 as compared with $6.061 billion a week ago.

READ MORE: Pakistan’s high growth threatened by fiscal imbalances