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Foreign exchange reserves increase to $15.249b: SBP

Foreign exchange reserves increase to $15.249b: SBP

KARACHI: The total liquid foreign exchange reserves of the country increased by $990 million to $15.249 billion by week ended July 12, 2019 as compared with $14.259 billion a week ago, State Bank of Pakistan (SBP) said on Thursday.

The official reserves of the SBP increased by $918 million to $8 billion during the week under review as compared with $7.083 billion in the preceding week. The central bank said that the official reserves were increased due to inflows of $991.4 million from International Monetary Fund (IMF) as first tranche of $6 billion extended fund facility for Pakistan.

The reserves held by commercial banks also increased by $73 million to $7.248 billion by week under review as compared with $7.175 billion in the preceding week.