SBP foreign exchange reserves declines to over 3 years low
Foreign exchange reserves held by the State Bank of Pakistan (SBP) plunged record $2.66 billion on a weekly basis, clocking in at $9.06 billion as of June 20, data released on Thursday showed.
Total liquid foreign reserves held by the country stood at $14.39 billion. Net foreign reserves held by commercial banks stood at $5.33 billion.
The SBP reserves saw a massive fall due to Government of Pakistan's (GOP) external debt repayments, mainly repayment of commercial borrowing.
The central bank's reserves had previously declined by $2.9 billion back in March 2022.
During the current week, SBP has received the GOP commercial loans equivalent to US$3,100 million; and multilateral loans of over US$ 500 million, according to the central bank statement.
'These inflows will be reflected in SBP's FX reserves for the week ending on 27-Jun-2025,' SBP said.
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