KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves declined $541 million on a weekly basis, standing at nearly $8.19 billion as of July 21, data released on Thursday showed.
Total liquid foreign reserves held by the country stood at $13.53 billion. Net foreign reserves held by commercial banks stood at $5.34 billion.
“During the week ended on Jul 21, 2023, SBP’s reserves decreased by $541 million to $8.1861 billion mainly due to due to external debt repayments,” the SBP stated.
Meanwhile, China’s EXIM Bank has rolled over principal payments of loans worth $2.4 billion that will be due in the coming two fiscal years, announced Finance Minister Ishaq Dar on Thursday.
China’s “EXIM Bank has rolled over for 2 years principal amounts of following loans totalling $2.4 billion which are due in next 2 fiscal years i.e. FY2023-24: $1.2 billion; FY2024-25: $1.2 billion,” said Dar on Twitter.
