Karachi July 27 2023: State Bank of Pakistan (SBP) foreign exchange reserves for the week ending June 30th, 2023, were decreased by USD 541 million, as per data released by the Central Bank.
“Chinese EXIM Bank has rolled over for 2 years principal amounts of following loans totaling USD 2.4 billion which are due in next 2 fiscal years with maturity of USD 1.2 billion in FY 2023-24 and USD 1.2 billion in FY2024-25” says Finance Minister Muhammad Ishaq Dar.
At present, SBP reserves stand at the level of USD 8,186 million as of 21st July 2023, after decrease of USD 541 million compared to USD 8,727 million at the end of the week ending 14th July 2023.
During the same period, foreign exchange reserves held by commercial banks increased by USD 9.9 miilion to USD 5,348 million as of 21st July 2023.
Overall reserves held by the country witnessed a decrease of USD 531 million to USD 13,534 million during the week ending 21st July 2023.
