Loan repayment further depletes Pakistan forex reserves

The SBP held reserves fall to $8.237 billion
Jun 23, 2022

A big loan repayment has dented Pakistan’s forex reserves held by the central bank to $8.237 billion as the country expects a transfer from the Chinese banks within a couple of days.

The State Bank of Pakistan announced on Thursday that the total liquid foreign reserves in the country stood at US$14,210.4 million as of 17-Jun-2022.

Of this, US$8,237.7 million were held by the SBP while the remaining US$5,972.7 million were held by commercial banks.

“During the week ended on 17-Jun-2022, SBP reserves decreased by US$748 million to US$ 8,237.7 million mainly due to external debt repayments,” the SBP said in a statement.

The statement said that the SBP reserves are expected to increase in the coming days on the realization of the proceeds of the China Development Bank loan.

forex reserves

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