Foreign exchange reserves swell to $20.51b: SBP
The State Bank of Pakistan (SBP) said foreign exchange reserves after an increase by $250 million in one week reached US$ 20.51 billion, reported 24NewsHD TV channel on Thursday.
In a tweet, State Bank of Pakistan (SBP) said, “Total liquid foreign reserves held by the country stood at US$ 20.51 billion as of December 31, 2020.”
Earlier it was reported that Pakistan’s current account balance stayed in surplus - meaning the government's foreign income exceeds its expenditures - for the fifth successive month in November at $447 million.
The development partially helped the country’s foreign currency reserves stay near a three-year high above $13 billion.
“Despite Covid-19, great news on the economy - remarkable turnaround. Current account surplus again in November: $447 million. For the fiscal year so far, the surplus is $1.6 billion as opposed to a deficit of $1.7 billion in the same period last year,” Prime Minister Imran Khan said on his official Twitter handle on Tuesday.