Forex reserves increase to $23b | Pakistan Today

Forex reserves increase to $23b

The State Bank of Pakistan (SBP) on Monday said the total liquid foreign reserves held by the country stood at $23.085 billion on July 1.

The break-up of the foreign reserves position shows that foreign reserves of $18.129 billion are held by the SBP while commercial banks are holding $4.956 billion.

During the week ending July 1, the SBP’s liquid FX reserves increased by $1.309 billion to $18.129 billion, compared to $16.820 billion during the previous week.

During the week, the SBP received $1.340 million from multilateral, bilateral and other official sources which include $501 million received from the International Monetary Fund (IMF) under the Extended Fund Facility, $502 million from the World Bank and $307 million from the Asian Development Bank.

During the week, the SBP made payments of $50 million on account of external debt servicing.

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