SBP’s forex reserves rise

KARACHI: The foreign exchange reserves of the State Bank of Pakistan rose to $9.233 billion during the week ended December 6 from $9.112 billion a week ago, it said on Thursday.

During the week ending December6, 2019, the SBP made a repayment of Pakistan International Sukuk of $1,000 million. "After accounting for multilateral and other official inflows during the week, the SBP reserves increased $121 million to $9,233.6 million.

On December9, 2019, the central bank received $1,300 million from the Asian Development Bank. These funds will be part of the SBP weekly reserves data as of December 13, 2019, to be released on December 19, 2019, it added. The forex reserves held by the country stood at $16.048 billion, compared with $15.993 billion. Meanwhile, the foreign exchange reserves held by commercial banks fell to $6.814 billion from $6.880 billion.