SBP reserves rise $1.18b to $12.07b
KARACHI (City News) – The foreign exchange reserves held by the central bank increased 10.85% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.
The central bank attributed the increase to receipt of $1.39 billion from the International Monetary Fund (IMF) under the Rapid Financing Instrument (RFI) to cushion the economic impact of the Covid-19 shock.
“The SBP has also made government’s external debt repayments amounting to $234 million,” the central bank said in a statement.
Overall, liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $18,463 million. Net reserves held by banks amounted to $6,392.7 million.