Pakistan Foreign Exchange Reserves register big increase

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Pakistan Foreign Exchange Reserves register big increase

KARACHI: The foreign excha­nge reserves have jumped to $21 billion after the country received $2.5bn it raised through auction of bond on the international market.

The State Bank of Pakistan (SBP) on Thursday reported that the reserves held by it rose to $14.883bn after receiving bond auction proceeds on Dec 5.

In fact, the SBP reserves during the week ending Nov 30 decreased by $887 million to $12.660bn due to external debt and other official payments.

The foreign exchange reserves of the commercial banks slightly decreased by $62m to $6.084bn during the week.

The country’s total foreign exchange reserves during the week ending Nov 30 stood at $18.746bn, but with inflow bond auction proceeds of $2.5bn that pushed the total at $20.98bn on Dec 5.