Pakistan’s foreign exchange reserves increase by $416 million to $15.993 billion

KARACHI: The liquid foreign exchange reserves of Pakistan increased by $416 million to $15.993 billion by week ended November 29, 2019, State Bank of Pakistan (SBP) said on Thursday.

The foreign exchange reserves of the country were at $15.577 billion a week ago.

The reserves held by the central bank grew by $431 million to $9.113 billion as compared with $8.682 billion a week ago.

The central bank said that during this fiscal year SBP reserves have increased by $1.8 billion.

The FX swaps / forward liabilities have reduced by $1.95 billion between June-October 2019.

Increase in the liquid SBP reserves and the reduction of the swaps / forward liabilities reflects the build-up of FX buffers, the SBP said.

The reserves held by commercial banks, however, reduced by $15 million to $6.88 billion by week ended November 29, 2019 as compared with $6.895 billion a week ago.

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