SBP’s foreign exchange reserves witness increase of $157m

SBP’s foreign exchange reserves witness increase of $157m
Karachi: The foreign exchange reserves held by the State Bank of Pakistan witnessed an increase of 1.28 per cent during the week ending on February 7, said an official statement.

According to the SBP statement, the reserved surged by $157 million to reach $12,430.8 million as compared to $12,273.7 million in the previous week.

The reserves held by banks other than the SBP stood at $6,304.6 million with a decrease $66.2 million. The reserves held by banks last week were recorded at $6,370.8 million.

As a whole, Pakistan’s reserves held by the SBP and other banks increased to $18,735.4, registering a rise of $90.9 million.

Earlier, Pakistan received the first installment of $991.4 million loan on July 9, 2019.

In December last year, the IMF issued the second installment of around $454 million, bolstering the foreign exchange reserves.