Pakistan’s foreign reserves rise $250 million

KARACHI: The total liquid foreign reserves held by the country stood at US$ 20.51 billion during the week ended on December 31, according to the State Bank of Pakistan (SBP).

Giving a break-up of the foreign reserves position, the central bank said foreign reserves held by it stood at US$ 13.41 billion, while net foreign reserves held by commercial banks at US$ 7.09 billion.

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During the week ended on December 31, the State Bank said its reserves increased by US$ 250 million to US$ 13.41 billion while those of banks recorded a $3.3 million decrease.

Earlier today, Prime Minister Imran Khan tweeted that he had received data on the regional export trends, which shows that, compared to Pakistan’s exports, the exports of India and Bangladesh for Nov-Dec 2020 showed a negative growth.

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“I wish once again to congratulate the exporters and the Ministry of Commerce for this achievement,” he said.