Pakistan’s Liquid Foreign Reserves Surge to $18.7 Billion
Pakistan’s liquid foreign exchange reserves surged to $18.7 billion in the week ending on July 03.
According to details, foreign reserves held by the State Bank of Pakistan stood at $12.041 billion.
Net foreign reserves held by commercial banks stood at $6.748.5 billion.
During the outgoing week, SBP reserves increased by $811 million to $12.041 billion. This increase in reserves is primarily attributed to the $1 billion GOP loan disbursement from China.
SBP also made government external debt payments of $231.2 million during this period.
The situation of the reserves is quite stabilized which also has given stability to the Rupee against Dollar whereas the outflow of exchange is consistent due to the scheduled payment of external debts– a persistent source of concerns for the economy.