{"id":12375,"date":"2022-11-25T13:23:41","date_gmt":"2022-11-25T13:23:41","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=12375"},"modified":"2022-11-25T13:23:41","modified_gmt":"2022-11-25T13:23:41","slug":"sbps-reserves-fall-by-134m-to-7-8bn","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/sbps-reserves-fall-by-134m-to-7-8bn\/","title":{"rendered":"SBP\u2019s reserves fall by $134m to $7.8bn"},"content":{"rendered":"<p>SBP\u2019s reserves fall by $134m to $7.8bn. Pakistan\u2019s foreign exchange reserves held by the central bank once again fell by 1.7%.<\/p>\n<p>According to data released by the <a href=\"https:\/\/www.sbp.org.pk\/\">State Bank of Pakistan<\/a> (SBP), on November 18, the foreign currency reserves held by the central bank were recorded at $7,825.7 million, down $134 million compared with $7,959.5 on November 11.<\/p>\n<p>Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $13,645 million.<\/p>\n<p>Net reserves held by banks amounted to $5,819.3 million. The central bank attributed the decline to external debt repayment.<\/p>\n<p><em><strong>Read more:\u00a0<a href=\"https:\/\/dailyausaf.com\/en\/business\/sbp-names-banks-responsible-for-increase-in-us-dollar-rate.html\">SBP names banks responsible for increase in US dollar rate<\/a><\/strong><\/em><\/p>\n<p>With the current foreign exchange reserves position, Pakistan has an import cover of 1.6 months.<\/p>\n<p>The reserve position is expected to strengthen after Pakistan receives funds from friendly countries.<\/p>\n<p>Earlier in the month, Finance Minister Ishaq Dar announced that the SBP will receive $500 million from the Asian Infrastructure Investment Bank (AIIB) in the ongoing month.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Board of Asian Infrastructure Investment Bank (AIIB) has today approved USD 500 million as co-financing of Asian Development Bank (ADB) funded BRACE program for Pakistan. <br \/>These Funds will be received by State Bank of Pakistan within November 2022.<\/p>\n<p>&mdash; Ishaq Dar (@MIshaqDar50) <a href=\"https:\/\/twitter.com\/MIshaqDar50\/status\/1590326735123648512?ref_src=twsrc%5Etfw\">November 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In a tweet, the finance minister shared that the AIIB board approved the funding as \u201cco-financing of the Asian Development Bank (ADB) funded BRACE program for Pakistan.\u201d<\/p>\n<p>\u201cThese Funds will be received by SBP within November 2022,\u201d he said.<\/p>\n<p>Analysts believe a rather thin forex exchange reserves are not a good omen for the local currency which is currently not on firm footing against the US dollar.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SBP\u2019s reserves fall by $134m to $7.8bn. Pakistan\u2019s foreign exchange reserves held by the central bank once again fell by 1.7%. According to data released by the State Bank of Pakistan (SBP), on November 18, the foreign currency reserves held by the central bank were recorded at $7,825.7 million, down $134 million compared with $7,959.5 [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":12377,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,9],"tags":[6843,443,5423,572,599,138],"class_list":["post-12375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-latest-news","tag-adb","tag-dollar","tag-ishaq-dar","tag-sbp","tag-state-bank-of-pakistan","tag-pakistan"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/12375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=12375"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/12375\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/12377"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=12375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=12375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=12375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}