{"id":292040,"date":"2022-10-28T07:37:15","date_gmt":"2022-10-28T02:37:15","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=292040"},"modified":"2022-10-28T07:37:15","modified_gmt":"2022-10-28T02:37:15","slug":"pakistans-forex-reserves-down-adbs-1-5bn-to-reflect-next-week","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/pakistans-forex-reserves-down-adbs-1-5bn-to-reflect-next-week\/","title":{"rendered":"Pakistan\u2019s forex reserves down, ADB\u2019s $1.5bn to reflect next week"},"content":{"rendered":"<p>KARACHI: Pakistan\u2019s foreign exchange reserves held by the State Bank of Pakistan (SBP) once again declined by 2.07%. On October 21, the foreign currency reserves held by the SBP were recorded at $7,439.9 million, down by $157 million compared with $7,597.2 on October 14, data released by SBP showed on Thursday. Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $13,162.2 million. Net reserves held by banks amounted to $5,722.3 million. The central bank cited external debt repayment as a major reason behind the decline. However, it mentioned that SBP has received $1.5 billion from the Asian Development Bank as a disbursement of loans for the Government of Pakistan. \u201cThese proceeds will be reflected in SBP reserves for the week ending October 28,\u201d the central bank said. With the current foreign exchange reserves position, Pakistan has an import cover of fewer than 1.1 months. News Desk<br \/>\nThe reserves\u2019 position is critical for Pakistan which has been desperately seeking dollar inflows to meet its balance-of-payments needs.<br \/>\nA critical level of reserves has caused severe pressure on the Pakistani rupee with the local unit depreciating constantly. Pakistan\u2019s economy faces serious challenges due to decreasing foreign exchange reserves and political instability.<br \/>\nForeign exchange reserves were decreasing on weekly basis due to an increase in imports and have fallen below $8 billion, which is an alarming situation. However, funds from multi-lateral partners will improve the position.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KARACHI: Pakistan\u2019s foreign exchange reserves held by the State Bank of Pakistan (SBP) once again declined by 2.07%. On October 21, the foreign currency reserves held by the SBP were recorded at $7,439.9 million, down by $157 million compared with $7,597.2 on October 14, data released by SBP showed on Thursday. Overall liquid foreign currency [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-292040","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pakistan\u2019s forex reserves down, ADB\u2019s $1.5bn to reflect next week<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/pakistans-forex-reserves-down-adbs-1-5bn-to-reflect-next-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan\u2019s forex reserves down, ADB\u2019s $1.5bn to reflect next week\" \/>\n<meta property=\"og:description\" content=\"KARACHI: Pakistan\u2019s foreign exchange reserves held by the State Bank of Pakistan (SBP) once again declined by 2.07%. On October 21, the foreign currency reserves held by the SBP were recorded at $7,439.9 million, down by $157 million compared with $7,597.2 on October 14, data released by SBP showed on Thursday. Overall liquid foreign currency [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leadpakistan.com.pk\/news\/pakistans-forex-reserves-down-adbs-1-5bn-to-reflect-next-week\/\" \/>\n<meta property=\"og:site_name\" content=\"Daily Lead Pakistan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DailyLeadPak\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-28T02:37:15+00:00\" \/>\n<meta name=\"author\" content=\"Web Desk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:site\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Web Desk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" 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On October 21, the foreign currency reserves held by the SBP were recorded at $7,439.9 million, down by $157 million compared with $7,597.2 on October 14, data released by SBP showed on Thursday. Overall liquid foreign currency [&hellip;]","og_url":"https:\/\/leadpakistan.com.pk\/news\/pakistans-forex-reserves-down-adbs-1-5bn-to-reflect-next-week\/","og_site_name":"Daily Lead Pakistan","article_publisher":"https:\/\/www.facebook.com\/DailyLeadPak\/","article_published_time":"2022-10-28T02:37:15+00:00","author":"Web Desk","twitter_card":"summary_large_image","twitter_creator":"@DailyLeadPak","twitter_site":"@DailyLeadPak","twitter_misc":{"Written by":"Web Desk","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/leadpakistan.com.pk\/news\/pakistans-forex-reserves-down-adbs-1-5bn-to-reflect-next-week\/#article","isPartOf":{"@id":"https:\/\/leadpakistan.com.pk\/news\/pakistans-forex-reserves-down-adbs-1-5bn-to-reflect-next-week\/"},"author":{"name":"Web Desk","@id":"https:\/\/leadpakistan.com.pk\/news\/#\/schema\/person\/6ef8309590ff620a99ce35559f54fd62"},"headline":"Pakistan\u2019s forex reserves down, 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