close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!
April 24, 2020

Forex reserves rise to $17.30 billion

Business

April 24, 2020

KARACHI: The total liquid foreign exchange reserves held by the country slightly rose to $17.300 billion from $17.295 billion, the central bank reported on Thursday.

However, the State Bank of Pakistan’s (SBP) foreign exchange reserves fell $85 million to $10.889 billion during the week ended April 17.

The foreign exchange reserves held by the SBP stood at $10.974 billion in the previous week.

“This decline is attributed to government external debt payments of $145 million,” the SBP said.

The forex reserves of commercial banks stood at $6.411 billion, compared with $6.320 billion in the previous week.

The central bank received $1.39 billion from the International Monetary Fund (IMF) under the Rapid Financing Instrument (RFI) to address the economic impact of the Covid-19 shock.

These funds will be part of SBP weekly reserves data as of 24-April-2020, to be released on 30-April-2020, the bank said.