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Forex reserves held by SBP up 20 million dollars

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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.

According to data released by the State Bank of Pakistan on Friday, the total liquid foreign reserves held by Pakistan slightly decreased to $17.005 billion, compared to $17.079 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.

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