Staff Reporter
Karachi
The liquid foreign exchange of the country increased by $819 million to $18.79 billion by week ended July 03, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were at $17.971 billion a week ago ended on June 26, 2020.
The official reserves held by the SBP increased by $811 million to $12.042 billion by week ended July 03, 2020 as compared with $11.231 billion a week ago.
The SBP attributed the increase in reserves to proceeds of $1,000 million as GOP loan disbursement from China. During the week, SBP also made government external debt payments of $ 231.2 million.
The foreign exchange reserves held by commercial bank witnessed nominal growth of $8 million to $6.748 billion by week ended July 03, 2020 as compared with $6.74 billion a week ago. The decline in reserves last week was mainly on account of the foreign currency assets (FCA) component coming down by $887.4 million.
Movements in the FCA occur mainly on account of purchase and sale of foreign exchange by the RBI, income arising out of the deployment of the foreign exchange reserves.
