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KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) dropped by $88 million to $17.597 billion during the week ended on Jan 7.
The central bank reported on Thursday that the country’s total reserves were $23.9bn while the holdings of the commercial banks were $6.3bn by the end of the week.
SBP-held reserves have been in decline for some weeks, putting pressure on the currency market and thus weakening the exchange rate.
Published in Dawn, January 14th, 2022
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Comments (5) Closed
Jan 14, 2022 08:23am
Some countries in the region have been increasing the foreign reserves every week. SBP should take a note of it and do the same.
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Jan 14, 2022 08:25am
state bank injecting dollars in the market to keep rupee stable.
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Jan 14, 2022 09:22am
thats awesome..exactly what s needed to pay chinese debt for this year..27 billion USD..long live cpec.
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Jan 14, 2022 10:55am
The reserves fall every week. They only go up when new loans come in.
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Jan 14, 2022 11:02am
Meanwhile, Bangladesh reserves are over $45 billion. The Taka is beating the Pakistani Rupee.
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