SBP reserves rise $2m to $16.42b

21
Staff Reporter
Karachi

The foreign exchange reserves held by the central bank rose 0.01% on a weekly basis, according to data released by the State Bank of Pakistan on Thursday.

On June 11, the foreign currency reserves held by the SBP were recorded at $16,417.3 million, up $2 million compared with $16,414.9 million recorded on June 4. The central bank gave no reason for the increase in reserves.

Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $23,586.5 million. Net reserves held by banks amounted to $7,169.2 million.

Pakistan borrowed $2.5 billion through Eurobonds on March 30, 2021 by offering lucrative interest rates to lenders aimed at building the foreign exchange reserves.

Pakistan received the first loan tranche of $991.4 million from the International Monetary Fund on July 9, 2019, which helped bolster the reserves.

 

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