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Pakistan Forex reserves fall to $24.61 bn in August 2021

Pakistan’s foreign exchange reserves fell by $49 million, or 0.19 percent, in the week ended Aug. 20, the central bank said Thursday 24.

The country’s liquid foreign reserves totaled $24.619 billion, down from $24.668 billion the previous week.

State Bank of Pakistan reserves decreased by $47 million to $17.578 billion due to debt repayments, the statement said.

“On August 23, 2021, SBP received SDR (Special Drawing Rights) funds of $2,751.8 million from IMF (International Monetary Fund).

This amount will increase SBP’s FX reserves and will be reflected in data to be published on September 2, 2021,” the department added.

Foreign exchange reserves of commercial banks stood at $7.040 bn, up from $7.042 bn a week ago.

Fatimah Naifeh

Studied at the Italian University (Sapienza Università di Roma) in a double degree program in financial markets and institutions. Ideas for out-of-the-box investments, a selection of financial news, economic research, and mobile apps for financial management. A diary of stock market investments and IPOs.

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