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Pakistan’s foreign exchange reserves spring high in 53 months

bySidra Butt
May 1, 2021
in Business, Economy, Finance, Main, New
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The State Bank and commercial banks held foreign exchange reserves of over $23.5 billion for the first time in 53 months. 

The last time Pakistan’s total foreign exchange reserves were at this level was on November 25, 2016.

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Meanwhile, foreign reserves held by the State Bank alone stood at a four-year high at $16.43 billion for the week ended April 23. During the week, State Bank reserves increased by $384 million. Commercial banks held $7.1 billion.  

The State Bank shared the foreign exchange reserves data by a week’s delay.

The State Bank’s foreign exchange reserves have been at a comfortable level since April when it received $2.5 billion in proceeds from the issuance of Pakistan Euro Bonds.

Tags: Commercial bankEuro BondsForeignForeign ExchangeState Bank of Pakistan
Sidra Butt

Sidra Butt

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