State Bank of Pakistan registers yet another increase in the Foreign Exchange reserves

KARACHI: State Bank of Pakistan registers yet another increase in theForeign Exchange reserves.

The State Bank of Pakistan (SBP) witnessed an increase of US$74 million inits foreign reserves during the week ending Feb 14.

According to the central bank, the total liquid foreign reserves held bythe country stood at $18.74 billion.Ad

Of the total, foreign reserves held by the State Bank of Pakistan wererecorded at $12.50 billion, while those held by commercial banks at $6.24billion.

During the week ending February 14, 2020, SBP reserves increased by $74million to US$ 12.50 billion.

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Earlier, on Feb 18, Adviser to Prime Minister on Finance and Revenue DrAbdul Hafeez Shaikh had said foreign direct investment (FDI) has witnesseda surge of 66 per cent during seven months of the year 2019-20 as comparedto last year.

Taking to Twitter, Hafeez Sheikh said, “Foreign Direct Investment rises 66%to $1.56 billion in July-Jan 2020 as compared to the same period last year.In January 20, net FDI was $223 million, 52% higher than January 19.”