Pakistan Dollar Reserve
Pakistan: State Bank reserves drop to lowest level since June 2020
Islamabad: Pakistan's foreign exchange reserve which is held by the State Bank of Pakistan (SBP) moved down by 6.04 percent on a weekly basis, media reports said on Friday.
On April 1, the foreign currency reserves held by the SBP were recorded at $11,319.2 million, down $728 million compared with $12,047.3 million on March 25, reports Geo News.
"Reserves decrease […] largely due to debt repayment and government payment pertaining to the settlement of an arbitration award related to a mining project," the central bank was quoted as saying by Geo News.
Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, is currently standing at $17,476.9 million.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
