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Pakistan foreign exchange reserves suffer massive blow of $3 billion
31 Mar, 2022
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Pakistan foreign exchange reserves suffer massive blow of $3 billion
The foreign reserves held by the State Bank of Pakistan (SBP) witnessed a staggering outflow of $2.915 billion in the week that ended on March 25, 2022, depicting a 19.5 percent decline on a week-on-week basis.
The central bank’s reserves have dropped to their lowest level since June 26, 2020, when they stood at $11.23 billion.
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by TaboolaSponsored Links
The SBP weekly report released on Thursday revealed that the country’s total liquid foreign exchange reserves went down by $2.885 billion (-13.4%) on March 25, 2022, to $18.55 billion, compared to $21.44 billion in the previous week. The SBP reserves decreased by $2.91 billion to $12.05 billion, compared to $14.96 billion a week earlier.
National Security Committee meeting concludes in Islamabad
Meanwhile, the net foreign reserves held by the commercial banks stood at $6.5 billion, showing an increase of $29.9 million on a weekly basis. This decline reflects repayment of external debt, including repayment of a major syndicated loan facility from China. The rollover of this facility is being processed and is expected shortly.
According to reports, China has agreed in principle on granting a fresh rollover of $2.5 billion in commercial loans to Pakistan for one year. Beijing already granted a rollover of a $2 billion loan amount in the recent past. Overall, China has granted a rollover of approximately $4.5 billion in loans to help Islamabad manage its external sector vulnerabilities.
PM Imran Khan summons emergency session of Nat
timesofislamabad.com
This is bad now that our credit rating is also taking a hit due to NCM
We are in for hard months ahead
31 Mar, 2022
SHARES
Pakistan foreign exchange reserves suffer massive blow of $3 billion
The foreign reserves held by the State Bank of Pakistan (SBP) witnessed a staggering outflow of $2.915 billion in the week that ended on March 25, 2022, depicting a 19.5 percent decline on a week-on-week basis.
The central bank’s reserves have dropped to their lowest level since June 26, 2020, when they stood at $11.23 billion.
Are You From Rawalpindi? Fertility Clinics in the US Might Be Cheaper Than You Think
Fertility Egg Donor in USA | Search Ads
Pakistan: The Cost of Solar Panels May Surprise You
Solar panels | Search ads
by TaboolaSponsored Links
The SBP weekly report released on Thursday revealed that the country’s total liquid foreign exchange reserves went down by $2.885 billion (-13.4%) on March 25, 2022, to $18.55 billion, compared to $21.44 billion in the previous week. The SBP reserves decreased by $2.91 billion to $12.05 billion, compared to $14.96 billion a week earlier.
National Security Committee meeting concludes in Islamabad
Meanwhile, the net foreign reserves held by the commercial banks stood at $6.5 billion, showing an increase of $29.9 million on a weekly basis. This decline reflects repayment of external debt, including repayment of a major syndicated loan facility from China. The rollover of this facility is being processed and is expected shortly.
According to reports, China has agreed in principle on granting a fresh rollover of $2.5 billion in commercial loans to Pakistan for one year. Beijing already granted a rollover of a $2 billion loan amount in the recent past. Overall, China has granted a rollover of approximately $4.5 billion in loans to help Islamabad manage its external sector vulnerabilities.
PM Imran Khan summons emergency session of Nat
Pakistan foreign exchange reserves suffer massive blow of $3 billion
The foreign reserves held by the State Bank of Pakistan (SBP) witnessed a staggering outflow of $2.915 billion in the week that ended on March 25, 2022,
timesofislamabad.com
This is bad now that our credit rating is also taking a hit due to NCM
We are in for hard months ahead
