SBP foreign reserves rise $70mn to $12.98bn

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KARACHI: The foreign exchange reserves in the country have witnessed an increase of US$70 million in the week ending on February 26, ARY News reported quoting the State Bank of Pakistan (SBP).

According to the data released by the central bank, net reserves held by the SBP stood at $12,978 million.

Overall liquid foreign reserves held by the country stood at US$ 20.133 billion as of February 26, 2021. Net reserves held by banks amounted to $7,155 million.

The State Bank of Pakistan (SBP) last week announced that the current account deficit had reduced to US$229 million in January 2021 from US$652 million last month.