Forex reserves rise to over $23bn

The State Bank of Pakistan’s (SBP) foreign exchange reserves were recorded at $16.42 billion during the week ending on April 23, showing an increase of $384 million.

According to the central bank, overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $23.52 billion after an increase of $300 million.

Net reserves held by commercial banks amounted to $7 billion.

Earlier on April 24, Prime Minister Imran Khan thanked overseas Pakistanis as cumulative inflows in Roshan Digital Accounts (RDA) crossed the $1 billion mark.

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RDA inflows were recorded at $9 million in September last year, $42m in October, $110m in November, and $250m in December last year.

The inflows jumped to $418m in January this year, $594m in February, $806m in March and $1,000m on April 23.

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