SBP reserves soar $384m to $16.4b

Post Views: 1

KARACHI: According to data released by the State Bank of Pakistan (SBP) on Thursday, the foreign exchange reserves increased by 2.39% on a weekly basis. 

As per details, the reserves held by the central bank on April 23 were $16,427.8 million compared to $16,043.9 million last week. The reserves increased by $384 million. The SBP did not give any formal explanation for the rise in foreign reserves. 

The net reserves held by the SBP add up to $7,092.4 million. The total reserves (held by SBP and other banks) and overall liquid foreign currency reserves stood at $23,520.2 million. 

On July 9, 2019, Pakistan received a $991.4 million loan from the International Monetary Fund (IMF) which jumped the reserves. In late December 2019, another loan of $454 million was received. 

 

For more news, visit Graana.com 




Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *