Foreign Exchange Reserves Declined by $128m

Muhammad Haris

State Bank of Pakistan’s foreign exchange reserves declined by $128 million on debt and interest repayments.

Sbp reserves stood around $8.027 billion following the week ended January 12, 2024.

Other banks’ reserves rose by $16 million to $5.118 billion for the week ended.

The Country’s overall foreign exchange reserves fell by $112 million to $13.145 billion. The reserves were down because of debt repayments.

The reserves might go up by $705 million.

Sbp received an instalment from the IMF which would be added to next week’s reserves numbers.

Following the arrival of funds from the IMF total amount reached $1.9 billion.

The next review is to commence soon to help qualify for a $1.1 billion final installment from a total package of $3 billion.