In a big economic development, Pakistan Foreign Exchange reserves register massive increase

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In a big economic development, Pakistan Foreign Exchange reserves register massive increase

ISLAMABAD - In a big economic development, Pakistan Foreign Exchange reserves register massive increase.

The Foreign exchange reserve held by the State Bank of Pakistan increased by US$ 431 million to US$ 9,112.9 million.

During the week ending on November 29, 2019, State Bank of Pakistan (SBP) reported the increase in its reserves by US$ 431 million to US$ 9,112.9 million.

The total liquid foreign reserves held by the country stood at US$15,993.2 million. According the break-up figures, the foreign reserves held by the State Bank of Pakistan stood at US$ 9,112.9 million where as the net foreign reserves held by commercial banks stood at US$ 6,880.3 million.

During current fiscal year SBP reserves have increased by US$ 1.8 billion.

The FX swaps / forward liabilities have reduced by US$ 1.95 billion between June-Oct 2019, increase in the liquid SBP reserves and the reduction of the swaps / forward liabilities reflects the build-up of FX buffers.