Forex reserves rise to $23.577bln

KARACHI: Pakistan’s foreign exchange reserves increased $283 million, or 1.21 percent, in the week that ended June 4, the central bank reported on Thursday.

The total liquid foreign exchange reserves held by the country stood at $23.577 billion, compared with $23.294 billion a week ago. During the week, the State Bank of Pakistan (SBP) received proceeds of WAPDA Green Eurobond, amounting to $499 million, the SBP said in a statement.

After accounting for external debt repayments, the SBP reserves increased $281 million to $16.414 billion, it added.

The foreign exchange reserves held by commercial banks inched up to $7.163 billion from $7.160 billion.