SBP receives $1bn against Eurobond issue, FX reserves reach 4-yr high

July 14, 2021 (MLN): The State Bank of Pakistan has received $1 billion of the government’s tap offering of its recently issued Euro Bond.

To recall, Pakistan issued Eurobonds worth $1bn last week.

After the arrival of the payment, SBP’s foreign exchange reserves, as of 13 Jul’21, have reached $18.2bn, which is the highest level since Jan 2017, SBP via its official Twitter handle said.

To highlight, Pakistan borrowed $300 million for 5 years at a 5.875% interest rate, $400 million bonds for 10-years at 7.125%, and $300 million for 30 years at an interest rate of 8.450%.

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Posted on: 2021-07-14T14:54:00+05:00