SBP Foreign Reserves Exchanges Declines to $18.6 billion

SBP Foreign Reserves Declines to $18.6 billion during last week.

Foreign reserves are basically the assets denominated in a foreign currency that are held by regulator of the country (central bank).

Foreign currencies,bond’s,Government securities and treasury bills are all part of FE.

SBP Foreign Reserves Exchanges Decline

State Bank of Pakistan’s (SBP) FER declined by 0.48 % on a weekly term as per the data released by the regulator on last Thursday.

Previously on 10th December the FER by the SBP were logged at $18,568.3 million meaning they have decreased by $90 million as compared to $18,568 on 3rd December.

The regulator (SBP) in this regard has not confirmed any specific reason for the slight decrease in reserves.

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Right now overall foreign currency reserves by Pakistan including net reserves held by banks apart from SBP have been recorded at $25,027 million.

Whereas Net reserves detained by banks have been claimed to be of $6,459 million amount.

Hence forth Pakistan needs to improve its FE for a better rupee standing against dollar and also for strengthening countries economic stability.

One option to improve Pakistan foreign exchange reserves is to to put bank on selected imported items for a specific period of time and to improve export’s of different items around the globe.

 

 

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