Debt payments reduce reserves by $ 367 million

Karachi:

Due to external debt payments, Pakistan’s state bank (SBP) of currency reserves decreased by $ 367 million during the week, reaching $ 10.21 billion from April 18, according to figures released on Thursday.

The country’s total wet reserves amounted to $ 15.44 billion, with $ 5.23 billion held by commercial banks.

“Earlier, on March 21, 2025, SBP had reported a $ 540 million reduction in,” Arif Habib Limited Sana Tawfiq’s research leader while speaking at Express Tribune.

The Central Bank attributed the last decline to foreign debt payments, stating: “During the week ending April 18, 2025, SBP stocks decreased $ 367 million to $ 10,205.9 million due to external debt costs.”

Pakistani Rupia was weakened against the US dollar on Thursday, slipping 0.04% to reach the lowest level of more than a year on the market between banks. By the end of the negotiation, Rupia was 281.07 against the dollar – a level last observed in January 2024. The previous day, the local currency was closed at 280.97.

The dollar organized a wide retreat in the world market as the investor darkens the lack of progress in the direction of restoring the US-China trade war that reappeared after an interference of optimism the day before.

US assets, including the dollar, rally on Wednesday, after President Donald Trump fell threats to shoot the Federal Reserve chief and seemed to soften his stance in China.

Meanwhile, gold prices in Pakistan have remained stable, reflecting the lack of traffic on the international market.

According to the Union All Pakistan Sarafa Gems and Jewelers (Apsgja), the price of gold per Tola is kept stable in RS352,000. Similarly, the price for 10 grams of gold remained unchanged at Rs301.783.

This followed Wednesday’s fluctuation when gold per Tola fell Rs11,700 to RS352,000.

On the world front, the price of gold also remained flat, standing at $ 3,338 per ounce (including a $ 20 insurance insurance), as the previous day, according to Apsgja data.

Adnan Agar, director of interactive goods, said gold prices were negotiating in a defined range without significant developments to cause further traffic.

“The market is currently set at $ 3,335, with a low $ 3,310 and high between $ 3,370 and $ 3,375,” he said.

“At the moment, there is no new trigger that affects the market direction.

Any major update, particularly related to China or other important events, would be necessary for further activity. ”

He noted that the previous session saw a low of $ 3,270, from which the market recovered.

At internationally, gold prices won after more than 3% reduced at the previous session, which helped a sluggish dollar and the opportunity hunting, while market attention remained focused on any updates in US-China trade relations.

Spot Gold increased 1% to $ 3,321.09 an ounce. Bullion hit a record $ 3,500.05 on Tuesday due to US economy concerns, but prices fell on Wednesday after Trump fell threats to shoot the head of the Federal Reserve and seemed to soften his stance in China.