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

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

KARACHI: In a big economic development, Pakistan Foreign Exchange reserves register massive rise.

The State Bank of Pakistan’s (SBP) net reserves increased by $1.65 billion to $10.89 billion during the week ending December 13.

According to the central bank’s data, the country’s total foreign reserves stood at $17.65 billion.

The break-up of the foreign reserves position is as under:

Foreign reserves held by the State Bank of Pakistan: $10.89 billion

Net foreign reserves held by commercial banks: $6.76 billion

Total liquid foreign reserves: $17.65billion.

Earlier in the day, the governor of the State Bank of Pakistan (SBP), Dr Reza Baqir link, hinted that more time will be required for making a reduction in the interest rate of the country.

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