Business

FOREX Assets Held By SBP Up 20 Million Dollars

Foreign Exchange, State Bank of Pakistan, Asian Development Bank, Commercial banks

Foreign exchange assets held by the State Bank of Pakistan have slightly enhanced 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 assets held by Pakistan slightly reduced 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 reduced to $6.635 billion against US$6.730 billion. Foreign currency reserves had surged few months back due to official influxes that included $106 million from the World Bank and $622 million from the Asian Development Bank (ADB).

In November 2017, the country had higher $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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