Reserves crosses $16 billion mark

The country's total liquid foreign reserves has crossed $16 billion mark end of the week supported by arrival of multilateral and other official inflows. According to State Bank of Pakistan, total liquid foreign reserves held by the country stood at $16.048 billion as on Dec 6, 2019 compared to $15.99 billion a week earlier. During the week under review, the SBP made a repayment of Pakistan international Sukuk of amounted to one billion dollar. After accounting for multilateral and other official inflows the SBP reserves increased by $121 million to reach $9.234 billion. Reserves held by the banks stood at $6.815 billion.

On December 9, 2019, the SBP has received $1.3 billion from Asian Development Bank (ADB) as loan for balance of payment and economic growth. These funds will be part of the SBP weekly reserves data as of December 13, 2019 and the data will be released on December 19, 2019. As per estimates, with arrival of these inflows, SBP's reserves will crossed $10 billion mark after a gap of 10-months.