{"id":88423,"date":"2022-09-04T10:00:00","date_gmt":"2022-09-04T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=88423"},"modified":"2022-09-02T23:03:03","modified_gmt":"2022-09-02T18:03:03","slug":"sbp-reserves-highest-usd-8-85-bn","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-reserves-highest-usd-8-85-bn.html","title":{"rendered":"SBP reserves highest in two months at USD 8.85 bn&nbsp;"},"content":{"rendered":"\n<p>Karachi: The State Bank of Pakistan (SBP) on Thursday (September 1) posted the highest FOREX reserves of USD 8.85 billion in two months, news sources reported. The reserves reached a new high on August 29 with the receipt of USD 1.16 billion from the International Monetary Fund (IMF).<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-receiving-usd-1-17-imf.html\" data-type=\"post\" data-id=\"88366\" target=\"_blank\" rel=\"noreferrer noopener\">SBP confirms receiving USD 1.17 from IMF<\/a><\/p>\n\n\n\n<p>According to a statement released by the central bank&#8217;s Twitter handle, reserves are at their highest level since June, as the government received much-needed financial reserves from overseas lenders. As per the information shared, the country&#8217;s currency reserves have fallen by 61.6% in the recent year. Total reserves fell from USD 20.073 billion in August 2021 to USD 7.697 billion this August. According to the SBP, the PKR lost 31% of its value versus the dollar during the same period, resulting in limited market activity and a rise in interest rates to a 14-year high of 15%.<br><br><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-monetary-policy-unchanged-15.html\" data-type=\"post\" data-id=\"88149\" target=\"_blank\" rel=\"noreferrer noopener\">SBP keeps the monetary policy unchanged at 15%<\/a><\/p>\n\n\n\n<p>It is worth noting that Pakistan recently received USD 1.16 billion from the IMF under the Extended Fund Facility (EFF). The loan duration has been extended to June<a href=\"https:\/\/www.zameen.com\/news\/imfs-fund-facility-programme-pakistan.html\" data-type=\"post\" data-id=\"85205\" target=\"_blank\" rel=\"noreferrer noopener\"> 2023 under the programme,<\/a> and the loan amount has been increased to USD 6.5 billion in total for economic support of the country.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) on Thursday (September 1) posted the highest FOREX reserves of USD 8.85 billion in two months, news sources reported. The reserves reached a new high on August 29 with the receipt of USD 1.16 billion from the International Monetary Fund (IMF). Read: SBP confirms receiving USD 1.17 from IMF According to a statement released by the central bank&#8217;s Twitter handle, reserves are at their highest level since June, as the government received much-needed financial reserves from overseas lenders. As per the information shared, the country&#8217;s currency reserves have fallen by 61.6% in the recent year. Total reserves fell from USD 20.073 billion in August 2021 to USD 7.697 billion this August. According to the SBP, the PKR lost 31% of its value versus the dollar during the same period, resulting in limited market activity and a rise in interest rates to a 14-year high of 15%. Read: SBP keeps the monetary policy unchanged at 15% It is worth noting that Pakistan recently received USD 1.16 billion from the IMF under the Extended Fund Facility (EFF). The loan duration has been extended to June 2023 under the programme, and the loan amount has been&hellip;<\/p>\n","protected":false},"author":84,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[51977,53869],"persona":[],"class_list":{"0":"post-88423","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-sbp-reserves","9":"tag-sbp-reserves-highest-in-two-months-at-usd-8-85-bnnbsp","10":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP reserves highest in two months at USD 8.85 bn&nbsp; - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank of Pakistan (SBP) on Thursday (September 1) posted the highest FOREX reserves of USD 8.85 billion in two months, news sources\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sbp-reserves-highest-usd-8-85-bn.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP reserves highest in two months at USD 8.85 bn&nbsp; 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