FX Reserves increase by $1.63bn in a week

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MG News | February 11, 2022 at 12:17 AM GMT+05:00

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February 10, 2022 (MLN): The foreign exchange reserves held by the country increased by $1.63 billion or 7% WoW to stand at $23.72 billion during the week ended on February 4, 2022, compared to $22.08bn in the previous week, mainly due to $1bn received from International Monetary Fund (IMF) under Extended Fund Facility (EFF) program, weekly data released by the State Bank of Pakistan (SBP) on Thursday showed.

In addition, proceeds against the issuance of Pakistan International Sukuk Bond worth $1bn were also received in the week.

As per the data, reserves held by the central bank during the week jumped by $1.6bn or 10% WoW to $17.3bn. 

Similarly, the reserves of commercial banks inched up slightly by $27.2mn or 0.4% WoW to $6.38bn from $6.35bn in the previous week.

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