Forex reserves rise to $14.802bln

KARACHI: Pakistan’s foreign exchange reserves rose 11.7 percent to $14.802 billion during the week ended January 25; following financial inflows from the friendly countries, the central bank said on Thursday.

The forex reserves held by the State Bank of Pakistan increased to $8.154 billion from $6.636 billion a week ago.

“During the week ending January 25, 2019, the SBP received inflows of $1,000 million each from Saudi Arabia and UAE as placement of funds. After taking into account outflows relating to external debt and other official payments, the SBP's forex reserves increased by $1,518 million during the week.”

The foreign currency reserves of commercial banks stood at $6.648 billion, compared with $6.621 billion in the previous week.