Forex reserves held by SBP up 20 million dollars
By Our Staff Correspondent
KARACHI: Foreign exchange reserves held by the State Bank of Pakistan have slightly improved by 20 million to $10.369 billion on August 3, 2018 against $10.349 billion on July 27.
Foreign currency reserves held by the State Bank of Pakistan rose to $10.369 billion from US$10.349 billion while net foreign reserves held by commercial banks decreased to $6.635 billion against US$6.730 billion.
Foreign currency reserves had surged few months back due to official inflows that included $106 million from the World Bank and $622 million from the Asian Development Bank (ADB).
In November 2017, the country had raised $2.5 billion by floating dollar-denominated bonds in the international market in a bid to increase official reserves.
Earlier, the SBP received $350 million under the Coalition Support Fund (CSF). In January, the SBP made a $500-million loan repayment to the State Administration of Foreign Exchange (SAFE), China.