Forex reserves rise to $20.5bln

KARACHI: Pakistan’s foreign exchange reserves increased $258 million, or 1.27 percent, during the week ended December 31, the central bank reported on Thursday.

The country’s forex reserves stood at $20.512 billion, compared with $20.254 billion in the previous week.

The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased $261 million to $13.412 billion. The rise in the SBP’s reserves is attributed to the government’s official inflows.

The foreign exchange reserves of commercial banks stood at $7.099 billion, compared with $7.103 billion in the preceding week.