Karachi June 22 2023: State Bank of Pakistan (SBP) foreign exchange reserves for the week ending June 16, 2023, witnessed sharpest fall of last 19 weeks due to external debt payment, as per data released by the Central Bank.
During the week, SBP reserves decreased by USD 482 million to stand at the level of USD 3,536 million as of 16th June 2023, compared to USD 4,019 million at the week ending 9th June 2023.
During the current week, SBP has received USD 300 million proceeds of GoP commercial loan. These inflows shall be incorporated in the reserves position to be published as of 23rd June 2023.
During the same period, foreign exchange reserves held by commercial banks decreased by USD 33 million to USD 5,327 million as of 16th June 2023.
Overall reserves held by the country witnessed decrease of USD 514 million to USD 8,863 million during the week ending 16th June 2023.