Pakistan’s foreign exchange reserves rise to USD 18.644b

Karachi: Pakistan’s foreign exchange reserves on Thursday grew by 3%; reaching a figure of USD 18.644 billion, a news source reported. As per the publication, the reserves rose by a value of USD 281 million — according to the data released by the State Bank of Pakistan (SBP).

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SBP’s reserves have grown by USD 359 million and were currently at a record high at USD 12.274 billion. Net reserves held by banks other than the SBP amounted to USD 6.371 billion, following a drop of USD 77 million.  In all, liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at USD 18.644 billion.

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The break-up of the foreign exchange reserves is as following:

1. Foreign reserves held by the State Bank of Pakistan: US$12.274 billion
2. Net foreign reserves held by commercial banks: US$6.371 billion
3. Total liquid foreign reserves: US$18.644 billion