Karachi: The State Bank’s foreign exchange reserves were seen to rise by 2.15% in the past week, a news source reported. The SBP reserves, on April 30, were recorded at USD 12.329 billion from USD 12.070 billion after undergoing a surge of USD 259 million.
Overall, the country’s reserves have risen to USD 18.755.1 million including the reserves held by other banks. The reserves held by other banks currently amount to USD 6.425 billion.
Country’s foreign exchange reserves have been bolstered through two tranches by IMF – one amounting to USD 991.4 million in July 2019; the other around USD 454 million in December 2019. Inflows from China also raised the total by nearly 2.5 billion. Additionally inflows from Asian Development Bank (ADB) worth USD 1.3 billion had helped Pakistan’s reserves cross USD 10 billion mark last year.
