[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]According to data released by the central bank on Thursday, the State Bank of Pakistan (SBP) witnessed a decline of $237 million in its foreign exchange reserves on a weekly basis.
As of December 1, the foreign currency reserves held by the SBP totaled $7.020 billion, marking a decrease from the $7.257 billion recorded on November 24. The central bank attributed this reduction to debt repayments in a brief statement.
Read more : SBPs Reserves Rise To $7.64 Billion From $31 Million
The overall liquid foreign currency reserves in the country, encompassing net reserves held by banks other than the SBP, amounted to $12.107 billion, reflecting a $286 million drop from the previous week. The net reserves held by banks reached $5.087 billion, indicating a decline of $49 million over the week.
It is worth noting that Pakistan’s case was notably absent from the agenda of the International Monetary Fund’s (IMF) Executive Board meetings scheduled until December 14. Earlier in the week, there were expectations that the IMF’s Executive Board meeting in December would ratify the staff-level agreement (SLA), paving the way for the country to access a tranche of $700 million.[/vc_column_text][/vc_column][/vc_row]
