Finance Minister Mohammad Ishaq Dar Friday announced that total liquid foreign reserves of the country have increased to $14.06 billion. In a tweet, the minister said the State Bank of Pakistan’s (SBP) reserve position is also the highest since October last year. •Total liquid foreign reserves at $14.06 billion.•SBP’s reserve position highest since October 2022.AlhamdoLilah!https://t.co/J99FKNammM — Ishaq Dar (@MIshaqDar50) July 21, 2023 Additionally, the volume of foreign exchange reserves held by the Central Bank has reached $8.072 billion, while the value of deposits with commercial banks stands at $5.033 billion. The central bank in a statement issued the previous day informed that SBP received US$ 2.0 billion from the Kingdom of Saudi Arabia, US$1.2 billion from International Monetary Fund and US$ 1.0 billion from the United Arab Emirates. Consequently, SBP reserves increased by US$ 4,203 million to US$ 8,727.2 million during the week ended on July 14, 2023. Meanwhile, net foreign reserves held by commercial banks stood at US$ 5,338.1 million, it added. In the previous week ending on July 07, 2023, total liquid foreign reserves held by the country was US$ 9,838.5 million. Among them, foreign reserves held by the central bank were US$ 4,524 million while net foreign reserves held by commercial banks were US$ 5,314.5 million.
Pakistan total liquid foreign reserves increases to $14.06 billion
