Huge Increase in Pakistan’s Foreign Exchange Reserves

April 16, 2021Zayn0

(Monitoring Desk) According to the State Bank of Pakistan, the country’s foreign exchange reserves reached a four-year high.

According to data released by the central bank, the country’s foreign exchange reserves increased by 2.5 2.54 billion between April 2 and April 9, following the auction of 2.5 2.5 billion Eurobonds.

According to the central bank, the country’s total foreign exchange reserves currently stand at 23.22 billion, of which the SBP has 16.10 billion and the commercial banks 7 7.11 billion.

The central bank said that SBP’s reserves increased by 7 2.57 billion during April 2-9, while those of commercial banks declined by 3. 3.83 billion, the highest since July 2017.

It may be recalled that the State Bank of Pakistan had on March 25 issued a report on reserves till March 19. The central bank’s reserves increased by 27 270 million as of March 19, after which the central bank’s reserves increased from 13 13.01 billion to 13 13.29 billion, the spokesman said in a statement.

Extracted from City42 News

 

Zayn

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