The foreign exchange reserves held by the central bank increased 0.74% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On September 4, the foreign currency reserves held by the SBP were recorded at $12,807.8 million, up $95 million compared with $12,712.7 million in the previous week. The central bank attributed the increase to proceeds worth $121 million received from the Asian Development Bank (ADB). Overall, liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $19,961.3 million. Net reserves held by banks amounted to $7,153.5 million. Pakistan received the first loan tranche of $991.4 million from the International Monetary Fund (IMF) on July 9 last year, which helped bolster the reserves. In late December, the IMF released the second loan tranche of around $454 million. Previously, the reserves jumped on account of $2.5 billion in inflows from China.
Published in The Express Tribune, September 11th, 2020.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
from Business News and Updates from the World of Commerce- eTribune https://ift.tt/3ikU7dF
No comments:
Post a Comment