Pakistan’s foreign exchange reserves exceed $18bn

By: News Desk      Published: 07:20 PM, 14 Jul, 2021
Pakistan’s foreign exchange reserves exceed $18bn

The foreign exchange reserves of Pakistan have exceeded $18.2 billion after receiving one billion dollars of Eurobonds that are sold out in the international market.

According to 24NewsHD TV channel report on Wednesday, the State Bank of Pakistan (SBP) has confirmed the receiving of one billion dollars and foreign exchange reserves have been reached the highest level since January 2017.

According to SBP data, the total foreign exchange reserves held by the central bank during the PTI regime have so far increased by a total of US$8.31 billion.

In August 2018, the central bank had a total increase of US$9.88 billion that was increased to US$18.20 billion by July 13, 2021.

However, the government's external debt increased by about US$16 billion during this period that was US$76.34 billion.

According to the SBP, the government's external debt in September 2018 was US$76.34 billion, which has now exceeded US$92 billion.

Earlier this month, the SBP stated that the total liquid foreign reserves of the country have reached 23.297 billion dollars. It further stated that the liquid foreign reserves held by the Central bank amount to 16,119.4 million dollars with an increase of 13 million dollars, while foreign reserves held by commercial banks stood at 7,178 million dollars in the week ended on 25the of June.

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