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Pakistan’s Liquid Forex Reserves reaches $21.92 billion

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KARACHI: Pakistan’s total liquid foreign exchange reserves are at $21.9 billion for the week ended on February 17, 2017, as compared to $21.8 billion of the previous week ended on February 10, 2017, reported by the Domestic Markets & Monetary Management Department of the State Bank of Pakistan (SBP).

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In recent year, Pakistan forex reserves have witnessed slash in amount. Out of the total foreign exchange reserves held by the country, $17 billion were with the SBP as compared to the $16.99 of the previous week while rest of the $4.9 billion were with the commercial banks as compared to the $4.8 held in the previous week.

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October, November and December 2016 was the best period when the reserves witnessed much growth and reached the maximum mark of $24 billion. Since then these are slashing gradually. However, these have not attained the figure again since January 2017. Most of the economist are not happy with the current situation despite the fact international media is highlighting the positive effects of Pakistan economy. Pakistani economists have of saying that these is because of internal and external debt.

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