Friday , August 14 2020
Breaking News
Home / Breaking News / Pakistan foreign reserves surge by $67m after ‘official inflow’
Pakistan foreign reserves surge by $67m after ‘official inflow’

Pakistan foreign reserves surge by $67m after ‘official inflow’

KARACHI: Pakistan has witnessed an increase in liquid foreign reserves during the week ended on July 17 and surpassed the United States Dollar (USD) 19,000 million mark.

According to figures released by the State Bank of Pakistan (SBP), the country currently has foreign reserves of US$19,047.3 million. The rise in the reserves by US$67 million is mainly due to official inflow received by the central bank.

Divulging details of the reserves, the SBP said that commercial banks currently have forex reserves of $6,925.7 million, besides reserves of $12,121.6 million by the state bank.

It is pertinent to mention here that a similar trend was followed in the previous week when the foreign exchange reserves held by the State Bank of Pakistan (SBP), during the week ending on 10th of July, rose by $13 million to $12.05 billion.

Sharing details of the foreign reserves held by the country, the SBP in its statement said that the total liquid foreign reserves of the country stood at US$ 18,952.6 million.

According to the central bank’s weekly report, SBP currently held the forex reserves of upto $12,054.9 million and $6,897.7 million reserves held by the commercial banks.