Pakistan Foreign Exchange reserves register yet another significant rise

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Pakistan Foreign Exchange reserves register yet another significant rise

KARACHI: The State Bank of Pakistan (SBP) on Thursday announced that the total liquid foreign reserves of the country have jumped upto US$18.86 billion during the week ending on February 28.

In a statement issued on Thursday from the central bank, out of the total reserves, the state-owned bank hold the foreign reserves of upto US$12.75 billion, witnessing an increase by US$166 million from the past week.

It further said that the commercial banks also hold reserves of upto US$6.11 billion.

The State Bank of Pakistan (SBP) witnessed an increase of US$87 million in its foreign reserves during the week ending Feb 21.

According to the central bank, the net liquid foreign reserves link held by the country stood at $18.74 billion.

Of the total, foreign reserves held by the State Bank of Pakistan were recorded at $12.59 billion, while those held by commercial banks decreased by $91 million to $6.15 billion.

It is pertinent to mention here that global watchdog Financial Action Task Force (FATF) had said that Pakistan link would remain on the grey list, and asked the country to implement the agreed-upon action plan until June.

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