Pakistan reserves increase $2,071 million to $16,195.6 million

Written by The Frontier Post

F.P. Report

KARACHI: Pakistan’s total liquid foreign reserves jacked up to US$ 16.195 billion as SBP received proceeds of China Development Bank’s loan.

State Bank of Pakistan, in a statement issued here on Thursday, stated that the total liquid foreign reserves held by the country stood at US$ 16,195.6 million as of 24 June 2022.

“SBP received proceeds of CDB loan amounting to RMB 15 billion and after accounting for external debt repayment, SBP’s reserves increased by US$ 2,071 million to US$ 10,309.0 million,” it said adding that net foreign reserves held by commercial banks stood at US$ 5,886.6 million.

In the previous week ended on June 17, total liquid foreign reserves hold by the country were US$ 14,210.4 million. Among them foreign reserves held by the State Bank of Pakistan were US$ 8,237.7 million while net foreign reserves held by commercial banks were US$ 5,972.7 million.

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