Foreign Exchange Reserves of the State Bank fall by $145.9 million – Research Snipers

Foreign Exchange Reserves of the State Bank fall by $145.9 million

According to the details shared by the State Bank of the Pakistan, the foreign exchange reserves held by the central bank of the country were decreased by 145.9 million US dollars during the week ending on June 19.

As per the central bank of Pakistan, the foreign exchange reserved held by the SBP decreased to 9.961 billion US dollars.

Read Also: 37% of Pakistan’s Population Facing Food Crisis

On the other hand, the foreign reserves held by the commercial banks of the country increased by 100 million US dollars to 6.768 billion US dollars. The reserves of the country fell by 45.2 million dollars to 16.73 billion dollars during this period.

It is worth mentioning here that the State Bank of Pakistan (SBP) has received around 1.725 billion US dollars in the foreign assistance, including 725 million US dollars from the World Bank (WB), 500 million US dollars from the Asian Development Bank (ADB), and 500 million US dollars from the Asian Infrastructure Investment Bank during the current week.

According to the details, these funds Pakistan received from the foreign banks will be added to the reserves held by the central bank of the country and the reserves data will be released on July 2.

Back on June 25, the Ministry of Finance had confirmed Pakistan received $1.5 billion in Covid-19 and development policy related finance assistance from three international financial institutions during this week.

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