Pakistan’s total liquid foreign reserves rise above $16bn

SBP receives proceeds of CDB loan amounting to RMB 15bn

KARACHI: Pakistan’s total liquid foreign reserves have risen up to $16.195 billion as the State Bank of Pakistan (SBP) on Thursday received proceeds from the China Development Bank’s loan.

In a statement issued here in this regard, the SBP stated that the total liquid foreign reserves held by the country stood at $16,195.6 million as of June 24, 2022.

“SBP received proceeds of CDB loan amounting to RMB 15 billion and after accounting for external debt repayment, SBP’s reserves increased by US$2,071 million to US$10,309.0 million,” it said adding that net foreign reserves held by commercial banks stood at US$5,886.6 million.

In the previous week ending June 17, total liquid foreign reserves hold by the country stood at US$14,210.4 million. Among these, foreign reserves held by the State Bank of Pakistan totaled $8,237.7 million while net foreign reserves held by commercial banks were $5,972.7 million.

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