SBP reserves jump $535m to $8.26bn

ISLAMABAD: After receiving inflows of $500 million from the Asian Development Bank (ADB), the country’s total liquid foreign reserves stood at $15,577 million as on August 9, the State Bank of Pakistan (SBP) reported on Saturday.

As per details, the foreign reserves held by the State Bank of Pakistan stood at $8,264.4 million while the net foreign reserves held by commercial banks stood at $7,313.1 million.

During the week under review, SBP’s reserves increased by $535 million.

“The increase in SBP’s reserves is mainly due to the inflow of $500 million received from Asian Development Bank (ADB),” the SBP stated.

Must Read

Chinese firm requests PM to reinstate 700 MW Azad Pattan power...

Exclusion from IGCEP will jeopardise bank financing under CPEC, undermines investor confidence, and disrupts the near-final financial closing, warns CEO of China Energy Engineering Corporation