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Reading: SBP’s forex reserves drop below $4.5bn.
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State Bank of Pakistan, State Bank of Pakistan, Pakistan Foreign Exchange Reserves
PhotoNews Pakistan > Business > SBP’s forex reserves drop below $4.5bn.
Business

SBP’s forex reserves drop below $4.5bn.

Web Desk
By Web Desk Published January 13, 2023 1 Min Read
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The State Bank of Pakistan’s (SBP) foreign exchange reserves dropped from $1,233 million to $ 4.34 billion.

As of January 6, the country’s liquid foreign reserves were US$10,187.8 million.

Total liquid foreign #reserves held by the country stood at US$ 10.19 billion as of January 06, 2023.
For details https://t.co/WpSgomnKT3 pic.twitter.com/l9Syz9T1bh

— SBP (@StateBank_Pak) January 12, 2023

External debt repayments reduced SBP forex reserves by $1,233 million to $4.343 billion in the week ending January 6. Commercial bank net foreign reserves were $5.84 billion.

On January 7, the SBP’s foreign exchange reserves dropped $1.2bn to $4.5 billion.

After repaying UAE, reserves dropped to $4.5 billion. They say Pakistan repaid Emirates NBD Bank $600mn and DIB $415mn on Friday.

In January, Finance Minister Ishaq Dar said Pakistan would receive from friendly nations, including Saudi Arabia.

In Islamabad, the government regretted that external debt payments were depleting foreign exchange reserves.

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