Karachi January 13 2022: Foreign exchange reserves held by commercial banks hit a low of 91 weeks with decrease of USD 29 million to the level of USD 6.303 billion as of 7th January 2022, according to data published by State Bank Of Pakistan.
Foreign exchange reserves held by State Bank of Pakistan decline by USD 88 million during the week ending January 7, 2022.
The main reason of this decline in foreign exchange reserves could be the higher commodity imports.
A L S O || R E A D
For the week ended December 03, 2021 the reserves help by state bank recorded at USD 18.658 billion.
At the week ending August 27, the foreign exchange reserves held by the state bank increased to an all-time high of USD 20.15 billion as Pakistan received general allocation of Special Drawing Rights (SDRs) worth USD 2,751.8 million from the International Monetary Fund (IMF) on August 24 2021.
At present, SBP reserves stands at the level of USD 17.597 billion as of 7th January 2022 compared to USD 17.686 billion at the end of 2021.
Overall reserves held by country witnessed decline of USD 117 million during the week of 7th January 2022.
