KARACHI: According to figures issued by the State Bank of Pakistan (SBP) on Thursday, the central bank’s foreign exchange reserves increased 0.33 percent weekly.
The SBP’s foreign currency reserves were valued at $10,885.7 million on April 16, up to $36 million from the previous day’s figure of $10,849.6 million.
The country’s total liquid foreign currency reserves, comprising net reserves held by banks other than the SBP, were $17,045 million. The total amount of net reserves held by banks was $6,159.3 million.
The central bank’s foreign exchange reserves climbed to an all-time high of $20.15 billion in the week ending August 27, 2021, after Pakistan received a general allocation of Special Drawing Rights (SDRs) worth $2,751.8 million from the IMF on August 24.
Pakistan borrowed $2.5 billion using Eurobonds on March 30, 2021, providing lenders with attractive interest rates in order to increase foreign exchange reserves.
On July 9, 2019, it got the first loan tranche of $991.4 million from the IMF, which helped to boost reserves. The IMF released the second loan tranche of $454 million in late December 2019.
