KARACHI: Country’s foreign exchange reserves dropped by $1.257 billion during the past week, the State Bank of Pakistan said, bringing total reserves down to $21.4847 billion.
The bulk of the decline came from the central bank’s own holdings, which fell by $1.3046 billion to $15.9164 billion. The SBP attributed the slide to external debt repayments.
Commercial banks’ reserves moved the other way, rising $47.6 million to $5.5683 billion.
The central bank of Pakistan also noted it had received $700 million from multilateral institutions and another $1.7 billion in commercial loan refinancing. Those inflows, however, will only reflect in SBP reserves on June 30, 2026.
Meanwhile, The State Bank of Pakistan (SBP) canceled the authorization/licenses of two exchange companies.
Tram project updates In a statement, the bank said that the licenses of M/s Dream Exchange (Private) Limited and Al Raj International Exchange Company (Private) Limited were canceled due to serious violations of SBP’s regulatory instructions.
Hence, both the companies including their head offices and all constituent branches, will be prohibited from undertaking any foreign exchange related business activities in any capacity.
SBP’s foreign exchange reserves rise by $56 million to $16.16 billion
