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As of December 2, 2022, the State Bank of Pakistan’s (SBP) foreign exchange reserves had decreased by another $784 million, to a dangerous level of $6.715 billion.
Since January 2019, SBP-held reserves have never been lower than at this time.
The SBP reported that its reserves dropped by $784 million to US$ 6,714.9 million during the week that ended on December 2, 2022.
According to the Ministry of Finance, Pakistan got $500 million from the Asian Infrastructure Investment Bank (AIIB) on November 29.
The payment of $1 billion against maturing Pakistan International Sukuk and some other repayments of external debt, according to SBP, is what caused the fall.
SBP’s reserves are at their lowest point since January 2019 at this time.