Forex reserves cross $13bn mark

KARACHI: The State Bank of Pakistan’s total liquid foreign reserves crossed $13 billion mark.

Foreign exchange reserves held by the SBP has continued to surge and increased by US 33 million dollars to $ 13.031 billion as on January 29, 2021 compared to $ 12.998 billion a week earlier.

According to SBP’s weekly report issued on Thursday, net foreign reserves held by commercial banks increased by $ 24 million to $ 7.132 billion end of the last week.

The total liquid foreign exchange reserves held by the country rose by $ 57 million to stand at $ 20.163 billion on January 29, 2021 up from $ 20.106 billion as on January 22, 2021.

It may be mentioned here that the country’s external account is performing well and current account was surplus by over one billion dollar with the efforts of the SBP’s reforms for the exchange rate and support of higher inflows of workers’ remittances.

Copyright Business Recorder, 2021