Latest news with #SBP-held
Express Tribune
4 days ago
- Business
- Express Tribune
Forex reserves fall $69 million
Delay in loans will not adversely affect Pakistan's external sector position in the short term due to $16 billion in gross foreign exchange reserves. PHOTO: FILE Listen to article Pakistan's foreign exchange reserves held by the State Bank of Pakistan (SBP) declined by $69 million during the week ended July 18, 2025, which took the central bank's reserves to $14.46 billion. The SBP attributed the decrease to scheduled external debt repayments. Despite the dip, the country's total liquid foreign reserves remained near the $20 billion mark, standing at $19.92 billion. According to the latest data, commercial banks held $5.46 billion in foreign currency reserves, while the SBP's share was $14.46 billion. Pakistan's reserves position has remained relatively stable in recent months due to inflows from international lenders and an improved current account balance. However, regular external debt servicing continues to exert downward pressure on the SBP-held reserves, highlighting the need for sustained inflows to maintain foreign currency buffers. Moreover, the Pakistani rupee gained ground against the US dollar on Thursday, appreciating 0.19% in the inter-bank market. By the end of the trading session, the rupee closed at 284.22, up 54 paisa from the previous day's close at 284.76.
Express Tribune
19-06-2025
- Business
- Express Tribune
Foreign exchange reserves top $17b
The central bank said in its latest weekly update on Thursday that the country's foreign exchange reserves, held by the SBP, decreased $66 million to $8.15 billion in the week ended January 5, 2024 due to debt repayments. photo: file Listen to article Pakistan's total liquid foreign exchange reserves rose to $17.1 billion as of June 13, 2025, according to data released by the State Bank of Pakistan (SBP) on Thursday. During the week ended June 13, SBP-held reserves increased $46 million, reaching $11.7 billion. Meanwhile, net foreign reserves held by commercial banks stood at $5.3 billion. The increase in reserves is due to continued foreign inflows and central bank's purchases of dollars from local market. This has a dual impact on the economy. On the one hand, it provides cushion against upcoming external payment obligations and strengthens foreign currency reserves. On the other hand, it prevents the rupee from becoming stronger. In fact, the rupee has recently been on a downward trajectory, losing three rupees against the dollar in just one and a half month, reaching an 18-month low. Increasing imports and debt repayments are also the driving factors. This currency decline further erodes the already weak purchasing power of people. The State Bank reported net foreign exchange interventions of $223 million in February 2025, bringing cumulative purchases to $5.3 billion for the first eight months of FY25 (July 2024 to February 2025). On Thursday, the Pakistani rupee recorded a loss against the US dollar, slipping 0.03% in the inter-bank market. By the end of the session, the local currency stood at 283.64, down nine paisa compared to the previous day's close at 283.55. Meanwhile, gold prices in Pakistan declined on Thursday, mirroring a soft trend in the international market where bullion remained largely steady as escalating geopolitical tensions in the Middle East balanced the downward pressure from the US Federal Reserve's hawkish monetary outlook. Meanwhile, platinum prices slipped slightly after touching their highest level since September 2014. In the local market, the price of gold fell Rs460 per tola, settling at Rs358,595, according to data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). Similarly, the price of 10 grams of gold decreased Rs394 to Rs307,437. Internationally, gold prices were little changed as heightened geopolitical tensions offset pressure from the Fed's hawkish stance. Spot gold was down 0.1% at $3,365.79 an ounce at 1340 GMT. US gold futures fell 0.7% to $3,382.80. Interactive Commodities Director Adnan Agar noted that gold prices were in a holding pattern as markets awaited clarity on the Israel-Iran conflict. "Gold is on pause because the geopolitical situation, especially regarding Israel and Iran, remains unresolved. By the weekend, we'll know whether the US will intervene or not," he said. Agar added that platinum had recently gained attention, hitting a 10-year high after lagging behind other precious metals for an extended period. "For a long time, platinum and silver were undervalued compared to gold, which recently reached record highs. Now, as gold pauses, investors are turning to platinum and silver, driving their prices up. Both metals reached multi-year highs just a few days ago," he elaborated.
Business Recorder
12-06-2025
- Business
- Business Recorder
SBP-held foreign exchange reserves rise $167mn to clock in at $11.68bn
Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $167 million on a weekly basis, clocking in at $11.68 billion as of June 6, data released on Thursday showed. Total liquid foreign reserves held by the country stood at $16.88 billion. Net foreign reserves held by commercial banks stood at $5.12 billion. The central bank did not attribute any reason to the increase in the FX reserves. 'During the week ended on 06-Jun-2025, SBP reserves increased by US$ 167 million to US$ 11,675.6 million,' it said. Last week, SBP-held reserves had declined by $7 million on a weekly basis.
Business Recorder
12-06-2025
- Business
- Business Recorder
SBP reserves rise $167mn, clock in at $16.88bn
Pakistan's total liquid foreign exchange reserves rose to $16.88 billion during the week ended June 6, 2025, according to data released by the State Bank of Pakistan (SBP) on Thursday. The total reserves held by the country stood at $16,875.0 million, up from $16,708.0 million a week earlier. The central bank's reserves increased by $167 million during the week to reach $11,675.6 million, the SBP said in a statement. The rise is attributed to official inflows. Meanwhile, net foreign reserves held by commercial banks were reported at $5,199.4 million. Last week, SBP-held reserves had declined by $7 million on a weekly basis, reaching $11.51 billion as of May 30.
Business Recorder
05-06-2025
- Business
- Business Recorder
SBP-held foreign exchange reserves decrease $7mn to $11.51bn
Foreign exchange reserves held by the State Bank of Pakistan (SBP) declined by $7 million on a weekly basis, reaching $11.51 billion as of May 30, data released on Thursday showed. Total liquid foreign reserves held by the country stood at $16.60 billion. Net foreign reserves held by commercial banks amounted to $5.09 billion. 'During the week ended on 30-May-2025, SBP reserves decreased by US$ 7 million to US$ 11,508.8 million,' the central bank said. Last week, SBP-held reserves had increased by over $1 billion after the receipt of the second tranche under the International Monetary Fund's (IMF) Extended Fund Facility (EFF). The IMF had disbursed SDR 760 million, equivalent to around $1.02 billion, after completing the first review of the EFF programme earlier in May.
