Foreign Exchange reserves rise by $258m at Dec-2020 end

January 8, 2021

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Pakistan’s liquid foreign exchange reserves have increased by $258 million to stand at robust figure of $20.512 billion at the end of the last week.

As per the report from State Bank of Pakistan, at the week ended Dec 31, 2020, the State Bank of Pakistan (SBP) foreign exchange reserves increased by $261 million to $ 13.412 billion supported by the arrival of the government of Pakistan official inflows. Net foreign reserves held by commercial banks stood at $7.1 billion, declined by $3 million in a week.

Decline in Trade Deficit has supported Pakistan’s Current Account which turned into surplus for the period July-November 2002. This has led to increase in Foreign Exchange Reserves of the country.