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Pakistan’s Liquid Foreign Reserves Position

The total liquid foreign reserves held by the country stood at US$ 22,084.5 million as of 28-January-2022. The break-up of the foreign reserves position is as under:-

• Foreign reserves held by the State Bank of Pakistan: US$ 15,727.6 million
• Net foreign reserves held by commercial banks: US$ 6,356.9 million
• Total liquid foreign reserves: US$ 22,084.5 million

During the week ended on 28-January-2022, SBP reserves decreased by US$ 463 million to US$ 15,727.6 million due to external debt and other payments.

The United States has reaffirmed that it values its relationship with Pakistan, emphasising that there is no requirement, as far as Washington is concerned, for 'other countries to choose between the US and China.

The total liquid foreign reserves held by the country stood at US$ 22,084.5 million as of 28-January-2022. The break-up of the foreign reserves position is as under:-

The Islamabad-Washington ties came up when State Department's spokesperson Ned Price was asked to comment on the Indian opposition leader Rahul Gandhi's remarks that China and Pakistan are closer than ever due to Prime Minister Narendra Modi's ineffective policies.

I'll leave it to the Pakistanis and PRC [People's Republic of China] to speak about their relationship. I certainly won't endorse those (Gandhi's) remarks, he said as the reporter asked if the two countries became closer because “they feel abandoned” by the US.

The exchange rate got the much-needed boost on Thursday, as the rupee jumped 0.51 per cent against the US dollar after the International Monetary Fund (IMF) approved a $1 billion loan as part of a bailout package to Pakistan.

The rupee rose 89 paise against the dollar in the inter-bank — its biggest single-day gain since Dec 31.

Federal Minister for Finance and Revenue Shaukat Tarin announced that the IMF had revived Pakistan's $6bn loan programme after the country met several conditions of the global lender in recent weeks.