The foreign exchange reserves held by the central bank fell 0
95% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday
On December 31, the foreign currency reserves held by the SBP were recorded at $17,686 million, down $169 million compared with $17,855
3 million on December 24
The central bank gave no reason behind the decrease
Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $24,018
8 million
Net reserves held by banks amounted to $6,332
8 million
Earlier in the week ended on August 27, the foreign exchange reserves held by the central bank soared to an all-time high of $20
15 billion after Pakistan received general allocation of Special Drawing Rights (SDRs) worth $2,751
8 million from the International Monetary Fund (IMF) on August 24
On March 30, 2021, Pakistan borrowed $2
5 billion through Eurobonds by offering lucrative interest rates to lenders aimed at building the foreign exchange reserves
It received the first loan tranche of $991
4 million from the IMF on July 9, 2019, which helped bolster the reserves
In late December 2019, the IMF released the second loan tranche of around $454 million
The reserves also jumped on account of $2
5 billion in inflows from China
In 2020, the SBP successfully made foreign debt repayment of over $1 billion on the maturity of Sukuk
In December 2019, the foreign exchange reserves surpassed the $10 billion mark owing to inflows from multilateral lenders including $1
3 billion from the Asian Development Bank (ADB)
| Date: | 07-Jan-2022 | Reference: | View Original Link |
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