According to the data released by the State Bank of Pakistan (SBP), the foreign exchange reserves rose 1.43%, held by the central bank, on a weekly basis.

The foreign currency reserves on December 4 held by the SBP were recorded at $13,298.5 million, up to $188 million compared with $13,110.9 million in the last week.

According to the details provided by the central bank, SBP received $359 million from multilateral/ bilateral sources during the week ended December 4, 2020, including $307 million from the Asian Development Bank (ADB).

“After accounting for external debt repayments, the SBP reserves increased by $188 million to $13,298.5 million,” it added.

The liquid foreign currency reserves held by the country stood at $20,402.4 million, including net reserves held by banks other than the SBP. Net reserves held by banks amounted to $7,103.9 million.

It should be mentioned here that on July 9, 2019, Pakistan received the first loan tranche from the IMF of $991.4 million which helped to increase the reserves.

In late December, the IMF released the second loan tranche of around $454 million.

[embedpost slug=”remittances-maintain-strong-momentum-for-a-record-6th-consecutive-month/”]