KARACHI: The foreign exchange reserves held by State Bank of Pakistan (SBP) have dropped to $6.904 billion after a decrease of $136 million.
In a statement issued today, the SBP said the country’s total liquid foreign reserves stood at $12.0 billion in the week ended on December 15, compared to the previous week’s total of $7.04 billion.
The SBP said its reserves decreased by $136 million to $ 6.9 billion due to debt repayments during the week under review. Meanwhile, net foreign reserves held by commercial banks remained $5.1 billion.
Total liquid foreign reserves held by Pakistan, in the previous week ended on December 08, 2023, were $12,206.4 million.
Among them, foreign exchange reserves held by SBP were $ 7,040.8 million while net foreign reserves held by commercial banks were $ 5,165.6 million.
Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement on the first review under Pakistan’s Stand-By Arrangement (SBA).
The agreement is subject to the approval of IMF’s Executive Board after approval around US$700 million will be available bringing total disbursements under the program to almost US$1.9 billion.
