Forex reserves rise to $17.971bln

KARACHI: Pakistan’s total liquid foreign reserves increased to $17.971 billion in the week ended June 26, 2020 from $16.730 billion a week earlier, the central bank said on Thursday.

The reserves held by the State Bank of Pakistan (SBP) increased by $1.270 billion to $11.231 billion in the week, after incorporating government external debt payments of $809 million. SBP received around $2,046 million official inflows, including $737 million from World Bank, $503 million from Asian Development Bank, $500 million from Asian Infrastructure Investment Bank and $300 million as loan disbursement from China.

Funds received would be part of SBP weekly reserves data as of July 3, 2020 to be released on July 9, 2020.

The reserves of commercial banks stood at $6.740 billion, compared with $6.768 billion in the previous week, the SBP said.