Pakistan’s Total Liquid Foreign Reserves Cross $24 Billion

The total liquid foreign exchange reserves were recorded at $24.03 billion as of November 5, 2021, tweeted the State Bank of Pakistan (SBP) on Thursday. The total liquid foreign reserves have seen a jump after a decline for consecutive five weeks. At the start of October, the reserves stood at $25.99 billion, however, the reserves fell to $23.92 billion by the end of the month. Furthermore, the net reserves with SBP also increased as they increased from $17.19 billion on October 29 to $17.32 billion on November 5. The SBP net reserves have shown a jump for the second consecutive week after a fall from $19.16 billion at the start of October to 17.14 billion in the third week of the month. During this time period, no significant change has been observed in the net reserves with banks. On November 5, the reserves stood at $6.69 billion compared to $6.72 billion in the previous week. During the first quarter of the current fiscal year, the total liquid foreign reserves have experienced a sharp increase followed by a decline. In July 2021, the total liquid foreign reserves stood at $24.77 billion. In August 2021, the reserves experienced a sharp increase and stood at $27.06 billion. However, the upward trend did not last long and the total liquid foreign reserves dropped to $25.98 billion in the next month.