SBP's reserves surge to $12.542bn

KARACHI: The State Bank of Pakistan's (SBP) foreign exchange reserves increased by $ 567 million during the last week supported by foreign inflows.

SBP's reserves surged to $ 12.542 billion as on July 30, 2020 compared to $11.975 billion a week earlier. This increase is attributed to inflows from multilateral and bilateral agencies including $ 505.5 million received from World Bank.

The country's total liquid foreign reserves stood at $ 19,563 billion as on July 30 2020, including some $7 billion of net foreign reserves held by commercial banks.

Copyright Business Recorder, 2020