Pakistan’s foreign reserves dip to US$9.7 billion

The total liquid foreign reserves of Pakistan stood at US$ 9,759.8 million while reserves held by the central bank reached US$4,207.9 million.

The State Bank of Pakistan, in a statement issued here on Friday, informed that during the week ending on March 31, 2023, SBP’s reserves decreased by US$ 36 million to US$ 4,207.9 million due to debt repayments.

Meanwhile, net foreign reserves held by commercial banks stood at US$ 5,551.9 million, it added.

In the previous week which ended on March 24, total liquid foreign reserves held by the country were US$ 9,815.9 million. Among them, foreign reserves held by the SBP were US$ 4,244.3 million while net foreign reserves held by commercial banks were US$ 5,571.6 million.

However, it’s important to note that foreign exchange reserves can fluctuate over time due to various factors such as changes in the country’s trade balance, foreign investment, and debt repayments.