KARACHI: The foreign exchange reserves of the country increased by $307 million to $23.52 billion by week ended April 23, 2021, State Bank of Pakistan (SBP) said on Thursday.
The foreign exchange reserves of the country were at $23.213 billion by week ended April 16, 2021. The foreign exchange reserves of the central bank increased by $384 million to $16.428 billion by week ended April 23, 2021 as compared with $16.044 billion a week ago. The foreign exchange reserves of the central bank rose 2.39 percent on a weekly basis.
However, foreign exchange reserves held by commercial banks fell by $77 million to $7.092 billion by week ended April 23, 2021 as compared with $7.169 billion a week ago.
Pakistan borrowed $2.5 billion through Eurobonds on March 30, 2021 by offering lucrative interest rates to lenders aimed at building the foreign exchange reserves. – TLTP
