Pakistan’s forex reserves increase to $15.71 billion

KARACHI: Pakistan’s foreign exchange reserves have increased by $743 million to $15.709 billion with inflows of $1 billion from UAE.

The total reserves of the country increased to $15.709 billion by week ended March 15, 2019 as against $14.966 billion a week ago, according to data of State Bank of Pakistan (SBP) issued on Thursday.

During the week ending March 15, 2019, SBP received inflow of $1 billion from UAE as placement of funds.

After taking into account outflows relating to external debt and other official payments, SBP reserves increased by $716 million during the week, SBP said.

The official reserves of the central bank increased to $8.838 billion by week ended March 15 from the level of $8.122 billion a week ago.

Similarly, the foreign exchange reserves held by commercial bank have increased by $27 million to $6.87 billion from previous week’s level of $6.843 billion.

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