KARACHI: Pakistan's total liquid foreign exchange reserves crossed $18 billion mark at the end of the last week, the State Bank of Pakistan (SBP) reported on Thursday.
The country's total liquid foreign exchange reserves posted an increase of $820 million during the last week ended on July 3, 2020 supported by bulk foreign inflows.
Pakistan's total liquid foreign exchange reserves surged to $18.79 billion mark at the end of the last week compared to $17.97 billion a week earlier.
During the week under review, SBP's foreign exchange reserves mounted up by $811 million to $12.042 billion.
This increase in reserves primarily attributed to proceeds of $1 billion as Government of Pakistan loan disbursement from China. During the week, the SBP also made government external debt payments of amounted to $ 231.2 million.
During June 2020, the SBP had received over $3 billion official inflows, including $737 million from World Bank, $503 million from Asian Development Bank, $500 million from Asian Infrastructure Investment Bank and $1.3 billion as government of Pakistan loan disbursement from China.
After incorporating government external debt payments, the SBP reserves have been surged to $12.042 billion end of the last week.
In addition, reserves held by the commercial banks stood at $6.748 billion at the end of last week.
Copyright Business Recorder, 2020
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