Total Pak foreign reserves reach at 9.34 billion dollars

KARACHI: The total liquid foreign reserves of Pakistan stood at US$ 9,340.8 million while reserves held by the central bank reached at US$ 4,069.9 million.
The State Bank of Pakistan, in a statement issued here on Monday, informed that foreign reserves of the central bank reserves increased by US$ 533 million to US$ 4,069.9 million as of June 23, 2023.
Meanwhile, net foreign reserves held by commercial banks stood at US$ 5,270.9 million, it added.
The rise in SBP’s foreign exchange reserves was mainly attributed to realisation of US$ 300 million proceeds of GoP commercial loan, it added.
According to SBP spokesperson the central bank had received US$ 300 million proceeds of GoP commercial loan during the previous week but those inflows were incorporated in the latest reserves position report as of June 23, 2023.
In the previous week ending on June 16, 2023, total liquid foreign reserves hold by the country was US$ 8,863.8 million.
Among them foreign reserves held by the central bank were US$ 3,536.9 million while net foreign reserves held by commercial banks were US$ 5,326.9 million. – APP