Web
Analytics
The news is by your side.

SBP reserves jump by US$268 mn owing to official inflows

KARACHI: State Bank of Pakistan (SBP) on Thursday announced an increase of United States Dolar (USD) 268 million in the foreign reserves of the country during the week ended on 16 October, ARY NEWS reported.

According to the SBP, the total liquid foreign reserves held by the country currently stood at US$ 19,301.6 million on 16 October-2020.

Giving a break-up of the forex reserves position, it said that the reserves held by the State Bank of Pakistan stood at US$ 12,066.6 million as compared to US$ 7,235 million reserves held by the commercial banks.

The SBP said that the foreign reserves increased by US$ 268 million due to official inflows of the government.

It is pertinent to mention here that during the last week, the SBP announced that the forex reserves in the country have witnessed a decline of United States Dollar (USD) 356 million in the week ending on October 09.

Read More: SBP issues clarification on new forex rules

According to a release shared by the SBP, the total liquid foreign reserves held by the country currently stood at US$ 19,015.5 million on 09 October.

Giving a break-up of the foreign reserves, the central bank said that it currently holds reserves of upto US$ 11,798.4 million as compared to the US$ 7,217.1 million forex reserves held by the commercial banks.

Comments

comments

You might also like