SBP Reserves Increased by $484 Million in One Week

Foreign exchange reserves held by the State Bank have continued to see consistent inflows which recorded an increase of $484 million or 3.74% during the week ending on November 20.

According to the State Bank of Pakistan, overall liquid foreign currency reserves held by the country surged to a quite comfortable position of $20.5 billion.

SBP’s reserves saw an increase of $484 million to $13.415 billion as compared to $12.931 billion due to official inflows from the Government of Pakistan on the account of loans.

Also, the foreign exchange reserves maintained in the account of commercial banks stood at $7.137 billion by the end of November-20.

Foreign exchange inflows continued to maintain a positive trend in the last few weeks. The government not only received loans from various agencies but inflows of foreign exchange also came from overseas Pakistan through Roshan Digital Account wherein handsome value of investments were received from expatriate Pakistanis.

The consistent upsurge of foreign exchange level also strengthened the value of the Rupee against the Dollar.

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