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SBP forex reserves swell by $107m to $4b


KARACH: The State Bank of Pakistan (SBP)-led foreign exchange reserves jumped by $107 million to $4 billion during the week ending June 9, 2023, official statistics show.

However, Pakistan reportedly paid $1bn to China on Monday, which brought down the SBP reserves to $3bn. The finance ministry neither confirmed nor denied the media report.

The central bank reported the total foreign exchange reserves of the country at $9.378bn, including $5.359bn held by the commercial banks.

Finance and Revenue Minister Ishaq Dar has expressed disappointment over delaying tactics by the International Monetary Fund (IMF) for not releasing amount under the “controversial” bailout package, saying the lender is wasting his time.

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