The reserves held by the State Bank of Pakistan stood at US$ 8,056.5 million
Pakistan’s Foreign Reserves Reach US$ 13,149.1 Million: SBP. The foreign exchange reserves held by the State Bank of Pakistan (SBP) stood at US$8,056.5 million after an increase of US$13 million as of 9th February 2024, the SBP said on Thursday.
In a statement, the central bank’s spokesperson said that the country’s total liquid foreign reserves stood at US$ 13,149.1 million during the week ended on 9th February.
The SBP said that out of the total foreign reserves, US$ 5,092.6 million are held by commercial banks as net foreign reserves.
The reserves held by the State Bank of Pakistan stood at US$ 8,056.5 million
Earlier during the week ended on February 2, Pakistan’s liquid foreign reserves stood at US$ 13,097.6 million.
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Pakistan’s total liquid foreign exchange reserves decreased US$78.9 million and stood at US$13,262.5 million as of January 26, 2024.
According to data issued by the central bank’s spokesperson, foreign reserves held by the SBP decreased by US$54 million to US$8,216.5 million due to debt repayments during the week ended on 26th January 2024.
Giving a breakup of Pakistan’s liquid foreign reserves position, the SBP revealed that foreign reserves of Pakistan held by commercial banks stood at US$5,046million.
Stock Market’s slide nearly 1,000 points before Friday break
On Tuesday, the Pakistan Stock Exchange (PSX) staged a robust recovery, concluding the session on a positive note following a two-day downturn. Wednesday continued the momentum, with 926.92 points gain through the trading day. However, Thursday brought fluctuations again, with a sharp plunge of over 1,100 points.
On Friday, the benchmark KSE-100 opened at 61,020.05 points and slid down to 60,035.67 points by the time it was suspended for Jummah break. This shows 984.38 points decline, once again, spearheaded by the E&P sector.
