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Pakistan’s foreign exchange reserves swell to over $23.577b

Pakistan’s foreign exchange reserves swell to over $23.577b

KARACHI: The total liquid foreign exchange reserves of Pakistan continue to surge as total reserves reached at the highest level US$ 23,577.9 million in the week ending on June 04.

According to a statement issued by the State Bank of Pakistan on Thursday, Foreign reserves held by the State Bank of Pakistan stood at US$ 16,414.9 million while Net foreign reserves held by commercial banks were recorded US$ 7,163.0 million.

The central bank received proceeds of WAPDA Green Euro bond amounting to US$ 499.0 million and after accounting for external debt repayments, SBP reserves increased by US$ 281 million to US$ 16,414.9 million, the statement added.

According to SBP data, the total liquid foreign exchange reserves attained their highest level in the week ending May 28, 2021 when they crossed US$ 23,294 million.