SBP reserves fall to almost 5-year low
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KARACHI: Reserves held by the State Bank of Pakistan (SBP) dropped by $148 million during the week ended on Jan 11 on account of debt servicing and other official payments.
The SBP reserves fell to $6.9 billion — their lowest level since April 11, 2014 when they hit a trough of $4.984bn. The dollar stocks of central bank have breached the $7bn-mark for the first time in almost five years.
On the other hand, holdings of the commercial banks edged up to $6.588bn, from $6.548bn stood while total liquid reserves of the country stood at $13.489bn during the period under review.
Published in Dawn, January 18th, 2019
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Comments (8) Closed
Jan 18, 2019 09:09am
That's bad, so what's the solution?
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Jan 18, 2019 09:14am
Saudis are going to pump Billions Dollars in to Reserve in coming weeks
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Jan 18, 2019 10:20am
We mostly use foreign exchange to pay import bills instead of investing in improving exports. We are now so dependent on remittences from overseas Pakistani that Gov completely ignore exports which can grow while remittances stay flat over longer period of time.
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Jan 18, 2019 11:45am
Great work by PTI government
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Jan 18, 2019 02:25pm
Surprisingly in another news it says Current account deficit has reduced by 4,4% in Dec 18 and remittance has increased by $1billion.
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Jan 18, 2019 07:09pm
Then Pakistan must print less currency not more currency. There extreme danger of higher inflation.
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Jan 18, 2019 07:58pm
No worries current govt have a magic wand...
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Jan 18, 2019 07:59pm
@IFIMA KHAN,
Govt always have fail plans...
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