SBP’s reserves up $88Mn on official inflows

The State Bank of Pakistan’s reserves rose by $ 88 million during the last week, due to arrival of government of Pakistan official inflows.

The SBP’s foreign exchange reserves surged to $15.862 billion compared to $15.774 billion a week earlier. The SBP’s foreign exchange reserves are likely to increase in coming days as the federal government has recently launched Wapda bonds in the international market with estimated $500 million target.

The total liquid foreign reserves held by the country stood at $23 billion week ended on May 21, 2021. Net foreign reserves held by commercial bank stood at $ 7.154 billion.