Foreign exchange reserves stand at $17.3b

Foreign exchange reserves stand at $17.3b

F.P. Report

ISLAMABAD: The total liquid foreign reserves held by the country stood at US$ 17,300.3 million as on April 17, 2020, State Bank of Pakistan (SBP) reported on Thursday.

According to break up figures, the foreign reserves held by the State Bank of Pakistan stood at US$ 10,889.2 million whereas the net foreign reserves held by commercial banks were recorded at US$ 6,411.1 million.

During the week ending on April 17, SBP reserves decreased by US$ 85 million to US$ 10,889.2 million. This decline in reserves was attributed to government external debt payments of US$145 million.

Meanwhile, on April 20, 2020, SBP received US$ 1.39 billion from International Monetary Fund under the Rapid Financing Instrument (RFI) to address the economic impact of the COVID-19 shock.

These funds would be part of SBP weekly reserves data as of April 24, 2020, to be released on April 30, 2020.

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