Pakistan’s foreign exchange reserves increase to $14.8 billion on inflows

KARACHI: Pakistan’s foreign exchange reserves have increased by $1.545 billion for the week ended January 25, 2019 owing to foreign inflows from Saudi Arabia and UAE, State Bank of Pakistan (SBP) said on Thursday.

 

 

 

The country’s foreign exchange reserves increased to $14.802 billion for the week under review as compared with $13.257 billion a week ago.

The official reserves of the SBP increased by 1.518 billion for the week ended January 25 as against $6.636 billion a week ago.

The central bank said that during the week ending January 25, 2019, SBP received inflows of $1,000 million each from Saudi Arabia and UAE as placement of funds.

After taking into account outflows relating to external debt and other official payments, SBP reserves increased by $1.518 billion during the week.

The reserves held by commercial banks also increased by $27 million to $6.648 billion from $6.621 billion.

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