The State Bank of Pakistan (SBP) has announced that its total reserves have dropped to $7.9 billion following a loan payment. This decrease comes as the country’s total liquid foreign reserves stand at $13.24 billion, representing a decrease of $131 million. Additionally, commercial banks now hold net reserves of $5.31 billion, which is a decrease of $6 million.
On June 27, 2023, the SBP released data revealing that Pakistan’s total liquid foreign reserves dropped by $74 million to $13.46 billion. Within the SBP, reserves decreased by $32 million to $8.15 billion. Moreover, commercial banks saw a decline of $38 million in their net foreign reserves, which now amount to $5.3 billion.
These figures highlight the impact of loan repayment on the country’s reserves. The SBP’s reserves serve as a vital component to maintain stability in Pakistan’s economy. The decrease in reserves could potentially affect the country’s ability to meet its financial obligations and manage foreign exchange requirements.