Forex reserves stand at $14.259bln

KARACHI: The total liquid foreign reserves held by the country stood at $14.259 billion on July 5, 2019, the central bank said on Thursday.

A breakup shows State Bank of Pakistan (SBP) was in possession of $7.083 billion, while commercial banks held $7.175 billion worth of foreign exchange reserves, bringing the tally to $14.259 billion.

During the week ending July 5, 2019, SBP’s reserves decreased $189 million to $7.084 billion, due to payments on account of external debt servicing. On July 9, 2019, the SBP received the first tranche from IMF of $991.4 million, after which its reserves increased to $8.036 billion.