Karachi July 28 2022: Foreign exchange reserves held by the State Bank of Pakistan were decreased by USD 190 million on higher debt repayments, revealed on Thursday by State Bank of Pakistan.
Pakistan trade deficit plunged 46.76 percent during the month of July to USD 2,642 million, according to data released by Pakistan Bureau of Statistics.
Significant reduction in trade deficit number will help to narrow down the Current Account Deficit which is the major issue to handle external payments.
As per the latest data released, exports stood at USD 2,219 million while Imports were USD 4,861 million during July 2022.
For the week ending July 29, 2022, Reserves held with SBP were decreased by USD 190 million to USD 8.385 billion as per data released by the Central Bank.
At present, SBP reserves stand at the level of USD 8.385 billion as of 29th July 2022 compared to USD 8.575 billion at the end of the week ending 22nd July 2022.
During the same period, foreign exchange reserves held by commercial banks decreased by USD 16 million to the level of USD 5.823 billion as of 29th July 2022.
Overall reserves held by the country witnessed a decrease of USD 206 million during the week ended 29th July 2022.
