Pakistan’s foreign exchange reserves increase despite $1bn Sukuk repayment

Pakistan’s foreign exchange reserves increase despite $1bn Sukuk repayment

KARACHI: The foreign exchange reserves of the country have increased by $55 million by the week ended December 06, 2019 despite repayment of $1 billion against International Sukuk.

The foreign exchange reserves of the country increased by $55 million to $16.048 billion by week ended December 06, 2019 as compared with $15.993 billion a week ago, State Bank of Pakistan (SBP) said on Thursday.

During the week ending December 06, 2019, SBP made a repayment of Pakistan International Sukuk of $1,000 million.

After accounting for multilateral and other official inflows during the week, SBP reserves increased by US$121 million to US$9.233 billion. The SBP’s foreign exchange reserves were $9.113 billion a week ago.

The SBP said that on 09-December-2019 it received US$1.3 billion from Asian Development Bank. These funds will be part of the SBP weekly reserves data as of 13-December-2019, to be released on 19-December-2019.

The reserves held by commercial bank decline by $65.8 million to $6.814 billion by week ended December 06, 2019 as compared with $6.88 billion a week ago.

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