Pakistan’s total foreign reserves soar to $13.53 billion

ISLAMABAD: The State Bank of Pakistan’s reserves increased to $8,186.1 million, bringing the total amount of  Pakistan’s liquid foreign reserves to US$13,534.1 million. In a statement, the State Bank of Pakistan stated that the main reason for the reserve decline of US$ 541 million to US$ 8,186.1 million during the week ending on July 21, 2023 was repayments of external  debt. The SBP also stated that commercial banks’ net foreign reserves were $5,348 million. The nation owned US$14,065.3 million in total liquid foreign reserves as of the previous week, which  ended on July 14, 2023.

Among them, foreign reserves held by the central bank were US$8,727.2 million while net foreign reserves held by commercial banks were US$5,338.1 million.