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Forex reserves amounted to $12.88bn

KARACHI: The total liquid foreign reserves of the country have risen to $ 12.88408 billion while the situation of foreign investment remained dismal, ARY News has learnt.

The amount of direct foreign investment is only $750 million during the last ten months which is 13 per cent less as compare to the same time period of previous year.

According to State Bank of Pakistan (SBP) weekly statement the foreign reserves held by central bank on May 9, amounted to $ 8.01908 billion. 

Meanwhile, the net foreign reserves held by banks were $ 4.865 billion, revealed SBP.

During the week, SBP's liquid foreign reserves increased by $ 780 million to $ 8,020 million compared to $ 7,240 million in the previous week.

The increase in the Central Bank's reserves is primarily attributed to in flows of $ 1,050 million from multilateral and bilateral sources, of which $ 1,006 million were received from the World Bank.

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