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KARACHI: Pakistan’s total liquid foreign exchange reserves amounted to $20.51 billion on June 2, down $1.25bn or 5.76 per cent from a week ago, the State Bank of Pakistan (SBP) said on Thursday.
Reserves of the SBP decreased $1.21bn to $15.7bn during the week. The SBP made payments of $1.24bn on account of external debt servicing, which included principal repayment of $750 million against the Pakistan Sovereign Bond.
Net foreign exchange reserves held by commercial banks amounted to $4.8bn on June 2, down 0.81pc from the preceding week.
Published in Dawn, June 9th, 2017
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Comments (3) Closed
Jun 09, 2017 12:39pm
Will be the same story for the entire fiscal year. Debt servicing is a huge drain on Pakistan's economy and unavoidable. Yesterdays sins have to be paid for today and in future. The amazing part is this is only external debt servicing. Once you factor in the domestic debt servicing the figures are staggering. And yet more amazing is the speed at which the government still continues to borrow.
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Jun 09, 2017 09:57pm
Even amazing is that the rupee is always stable against USD which defies all the rules of economics. I bet there is a deal somewhere with USA :)
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Jun 10, 2017 04:21am
why present govt kept on taking loans in this conditions .
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