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Pakistan’s foreign exchange reserves increase by $819m

Pakistan’s foreign exchange reserves increase by $819m

KARACHI: The liquid foreign exchange of the country increased by $819 million to $18.79 billion by week ended July 03, 2020, according to State Bank of Pakistan (SBP).

The foreign exchange reserves of the country were at $17.971 billion a week ago ended on June 26, 2020.

The official reserves held by the SBP increased by $811 million to $12.042 billion by week ended July 03, 2020 as compared with $11.231 billion a week ago.

The SBP attributed the increase in reserves to proceeds of $1,000 million as GOP loan disbursement from China.

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

The foreign exchange reserves held by commercial bank witnessed nominal growth of $8 million to $6.748 billion by week ended July 03, 2020 as compared with $6.74 billion a week ago.