As of June 27, 2023, Pakistan’s total liquid foreign reserves decreased by $74 million to $13.46 billion, according to information made public by the State Bank of Pakistan (SBP) on Thursday.
Pakistan’s foreign reserves drop: The SBP statistics show that the nation’s foreign reserves decreased by $74 million to $13.46 billion. The SBP’s reserves decreased by $ 32 million, falling to $8.15 billion.
In the meantime, it continued, commercial banks’ net foreign reserves fell by $38 million to US$ 5.3 billion.
Prior to this, Pakistan’s central bank held $8,186.1 million in reserves, bringing the country’s total liquid foreign reserves to US$13,534.1 million.
According to a statement released by the State Bank of Pakistan on Thursday, the SBP’s reserves fell by US$ 541 million to US$ 8,186.1 million, primarily as a result of repayments made on foreign debt during the week ending on July 21, 2023.
It also said that commercial banks’ net foreign reserves were $5,348 million.
It is important to note that the Senate was informed today that Pakistan’s foreign exchange reserves have increased from $8 billion to roughly $14 billion as a result of the government’s wise economic measures.
Ishaq Dar, the finance minister, reportedly reacted to a number of points of order brought up by members of the Upper House.
The Finance Minister recalled his repeated assurances that Pakistan would not declare a default and would honour all of its international obligations. He claimed that friendly nations like Saudi Arabia, Qatar, and China generously contributed to the government’s success in achieving this goal.
