Karachi: Pakistan’s foreign exchange reserves, held by the State Bank of Pakistan (SBP), increased by $67.3 million, reaching $7,714 million in the week ending October 13, 2023, as compared to the previous week’s balance of $7,646.7 million.
According to data from the SBP, the total liquid foreign currency reserves for the country, including reserves held by commercial banks, stood at $12,912.9 million.
Additionally, commercial banks maintained reserves of $5,198.9 million.
As part of a $3 billion loan program spanning nine months, the International Monetary Fund (IMF) disbursed the first tranche of $1.2 billion, and Saudi Arabia and the United Arab Emirates deposited $3 billion into SBP’s accounts.
Furthermore, Pakistan’s current account recorded a deficit of $8 million in September, according to the State Bank of Pakistan (SBP), as reported by ARY News. This deficit is a reduction from the $950 million recorded in July 2023. In September of the previous year, the current account deficit was $360 million.
In July, Pakistan’s current account registered a deficit of $809 million, marking the highest deficit since October 2022, as revealed by data from the State Bank of Pakistan (SBP).
