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SBP: Pakistan’s Liquid Forex Reserves reaches $21 billion mark

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KARACHI: Pakistan’s total liquid foreign exchange reserves are at $21 billion for the week ended on December 18, 2015 as compared to $20.7 billion of the previous week ended on December 11, 20015, reported by the Domestic Markets & Monetary Management Department of the State Bank of Pakistan (SBP).

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First time in the history of Pakistan, the country has achieved this figure because of prudent economic policies. The macro-economic indicators were predicting for the same figure. Out of the total foreign exchange reserves held by the country, $16 billion were with the SBP as compared to the $15.7 of the previous week while rest of the $5 billion were with the commercial banks as compared to the $4.9 held in the previous week.

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Overall reserves with both SBP and commercial banks were increased during the said period. With the commencement of year 2015, forex reserves are increasing gradually accept for the month of August when reserves were decreased by a little figure. Moreover, this figure is also higher as compared to the corresponding period of 2014 when reserves were $15,267.9 million at the month end.

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