SBP reserves rise to $12bn

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP), during the week ending on July 3, rose by $810 million to $12.04 billion, ARY News reported.

According to the central bank’s weekly report, the increase has been attributed to proceeds of $1,000 million as loan disbursement from China to Pakistan.

During the week, the SBP also made government’s external debt payments of $231.2 million.

Meanwhile, the foreign exchange reserves held by the central bank increased by $8 million to $6.74 billion, said the report.

Overall, liquid foreign currency reserves held by the country stood at $18.79 billion.

Earlier on July 2, State Bank of Pakistan had released the details of country’s current finances till June 26.

The premier bank had gotten a total of $2.4 billion dollars in loans and donations which included World Bank’s 730.70 million dollars.

The Asian Development Bank had given a total of $500.3 million dollars, while Asian Infrastructure Investment Bank $500 million dollars.