Inside Financial Markets
Forex reserves up by $168 Million - Inside Financial Markets

Forex reserves up by $168 Million

– Business Recorder

The country’s liquid foreign exchange reserves rose by $168 million during last week ended May 7, 2021, supported by official inflows.

According to foreign exchange report issued by the State Bank of Pakistan (SBP) on Monday, Pakistan’s total liquid foreign exchange reserves stood at $ 22.91 billion at the end of last week compared to $22.743 billion a week earlier.

During the week ended May 7, 2021, the SBP reserves increased by $ 177 million due to government of Pakistan official inflows. With the arrival of these inflows, the SBP’s reserves surged to $ 15.775 billion up from $15.598 billion.

However, net forex reserves held by commercial banks slightly declined by $9 million to $ 7.136 billion at the end of the last week.

Syed Zaki Hussain

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)