Pakistan’s total foreign reserves reach at $ 9.34b
Pakistan’s total liquid foreign reserves were $9,340.8 million while the central bank held $4,069.9 million. As of June 23, 2023, the State Bank of Pakistan’s foreign reserves increased by $533 million to $4,069.9 million, according to a statement released here on Monday. Meanwhile, commercial banks held $5,270.9 million in net foreign reserves. As a result of the realisation of proceeds from the GoP commercial loan, SBP’s foreign exchange reserves increased. A spokesperson for the SBP said the central bank had received $300 million proceeds from GoP commercial loans during the previous week, but those inflows were incorporated into the latest reserve position report as of June 23, 2023. The country’s total liquid foreign reserves were $8,863.8 million as of June 16, 2023. The central bank held $3,536.9 million in foreign reserves, while commercial banks held $5,326.9 million in net foreign reserves.