Pakistan's total liquid forex reserves stand at $13.61 billion
Karachi: The State Bank of Pakistan's foreign exchange reserves jumped $67 million to reach still an alarming level of $7.9 billion till August 12, 2022.
Total liquid foreign reserves held by the country stood at $13.61 billion, said the SBP on Thursday. Net foreign reserves held by commercial banks amounted to $5.72 billion.
"During the week ended August 12, 2022, SBP’s reserves increased by $67 million to $7,897.3 million,” the SBP said in a statement.
The reserves’ position is critical for Pakistan which is desperately seeking dollar inflows to meet its balance-of-payments needs.
A low level of reserves caused severe pressure on its currency market with the rupee witnessing its worst monthly performance in July in over 50 years.
Since then, the rupee has gained on grounds that Pakistan met all prior conditions of the International Monetary Fund (IMF), a development that would help it secure $1.17 billion of inflow under the Extended Fund Facility (EFF).
PFMA leader seeks end to flour subsidy conditions
- 7 گھنٹے قبل
OpenAI says its new cybersecurity model is better at not hacking other companies
- 23 منٹ قبل
How Democrats can make good on their new mandate
- 2 دن قبل
Nintendo’s designers strove for ‘elegance’ when remaking Ocarina of Time
- 23 منٹ قبل
Amazon is now making a Melania Trump TV series
- 23 منٹ قبل
Protesters break into Microsoft data center site in Amsterdam
- 23 منٹ قبل
Please stop asking me when the AI bubble will pop
- ایک دن قبل
Canva is announcing changes and layoffs affecting 22 percent of its staff
- ایک دن قبل
OpenAI valued at $1.25 trillion, as rival Anthropic nears its IPO
- 23 منٹ قبل
Peak Design expands its collection of wireless charging accessories
- 15 گھنٹے قبل
OpenAI is stepping back from NDAs for data center projects
- ایک دن قبل
Zelda is back and better than ever
- 22 منٹ قبل
