Daily Times

IMG109SBP-696x438The foreign exchange reserves of the country registered nominal fall of $7 million to $23,212.8 million by week ended April 16, 2021, State Bank of Pakistan (SBP) on Thursday. The foreign exchange reserves of the country were $23.22 billion by week ended April 09, 2021. The foreign exchange reserves held by the central bank fell 0.38 percent on a weekly basis, according to data released by the SBP. On April 16, the foreign currency reserves held by the SBP were recorded at $16,043.9 million, down $63 million compared with $16,106.4 million in the previous week. The central bank attributed the fall to external debt repayment.

Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $23,212.8 million. Net reserves held by banks amounted to $7,168.9 million.

Pakistan borrowed $2.5 billion through Eurobonds on March 30, 2021 by offering lucrative interest rates to lenders aimed at building the foreign exchange reserves.