Pakistan’s foreign reserves jump by US$567 million, announces SBP
KARACHI: After a decrease in the foreign reserves of the country in the past week, the State Bank of Pakistan (SBP) on Thursday announced an increase of United States Dollar (USD) 567 million in the liquid foreign reserves of the country, ARY NEWS reported.
Detailing the position of the reserves at the end of the week on 30 July, the SBP said that the overall foreign reserves stood at US$ 19,562.9 million in the country.
— SBP (@StateBank_Pak) August 6, 2020
Giving its breakup, the central bank said that it holds the reserves of US$12,542.2 million as compared to the foreign exchange of US$ 7,020.7 million held by the commercial banks.
The SBP statement said that during the week ended 30-July-2020, its reserves increased by US$ 567 million to US$ 12,542.2 million.
“This increase is attributed to inflows from multilateral and bilateral agencies including US$ 505.5 million received from the World Bank.”
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It is pertinent to mention here that on July 30, the State Bank of Pakistan (SBP) announced a decline in the reserves by the United States Dollar (USD) 146 million.
Giving a break-up of the reserves, it said that the foreign reserves held by the State Bank of Pakistan stood at US$ 11,975.6 million as compared to US$ 6,936.6 million held by the commercial banks.
It said that the SBP reserves decreased by US$146 million to US$ 11,975.6 million, due to government external debt repayments.