State Bank's Forex Reserves Increase by USD 358.50 Million

By MG News | February 06, 2020 at 05:28 PM GMT+05:00

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Feb 06, 2020 (MLN): Pakistan's Forex Reserves increased by USD 281.80 Million or 1.53% and the total liquid foreign reserves held by the country stood at USD 18,644.50 Million on Jan 31, 2020.

According to data published by the State Bank of Pakistan (SBP) its reserves increased by USD 358.50 Million. The net reserves of the commercial banks continued to decrease as they were down by another USD 76.70 million during the week.

Reserves held by commercial banks touched their highest value of USD 7,366 Million on August 17, 2019, since then, their reserves have slipped by USD 995 million while those held by the SBP have increased by USD 4,035 million during the same period. Between August 17, 2019 and January 31, 2020 the Pak Rupee has appreciated by Rs.4.18 or 2.63% against the Dollar.

**Summary of Holding and Weekly Change**
Foreign reserves held by	Jan 31, 2020	Jan 24, 2020	Change	% Change
State Bank of Pakistan	12,273.70	11,915.20	358.50	3.01%
Net Foreign Reserves Held by Banks	6,370.80	6,447.50	-76.70	-1.19%
Total Liquid Foreign Reserves	18,644.50	18,362.70	281.80	1.53%

Amount in USD Million

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