Overview
- Total liquid reserves stood at $21.1924 billion as of January 2, including $16.0557 billion at the State Bank of Pakistan and $5.1367 billion at commercial banks.
- Central bank holdings rose by $141 million for the week, mainly due to the receipt of SDR 914 million, roughly $1.2 billion, from the IMF.
- Analysts at Arif Habib Limited estimate Pakistan’s reserves cover about 2.65 months of imports.
- The rupee closed slightly firmer at Rs280.05 against the US dollar, while local gold fell by Rs600 per tola to Rs466,162, according to the jewellers’ association.
- India’s forex reserves declined by $9.809 billion to $686.801 billion in the same week, with foreign currency assets and gold down $7.622 billion and $2.058 billion, respectively.