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Pakistan's foreign exchange reserves jump $3 million but still below $8bn-mark

The reserves' position is still critical as Pakistan needs flow of the US dollars to cater for its balance of payments

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Pakistan's foreign exchange reserves jump $3 million but still below $8bn-mark
GNN Media: Representational Photo

Karachi: Foreign exchange reserves held by the State Bank of Pakistan (SBP) jacked up $3 million on a weekly basis, clocking in $7.96 billion as of November 11, 2022.

According to data released by the central bank on Thursday, total liquid foreign reserves held by the country stood at $13.8 billion. Net foreign reserves held by commercial banks clocked in at $5.84 billion.

The resevres have witnessed a litte respite as Pakistan received commitments of payments from multiple donors recently.

The reserves’ position is critical for Pakistan which has been desperately seeking dollar inflows to meet its balance-of-payments requirements.

 

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