Remittances maintain strong momentum for a record 6th consecutive month
The State Bank of Pakistan on Friday said that Workers’ remittances maintained...
According to the data released by the State Bank of Pakistan (SBP), the foreign exchange reserves rose 1.43%, held by the central bank, on a weekly basis.
The foreign currency reserves on December 4 held by the SBP were recorded at $13,298.5 million, up to $188 million compared with $13,110.9 million in the last week.
According to the details provided by the central bank, SBP received $359 million from multilateral/ bilateral sources during the week ended December 4, 2020, including $307 million from the Asian Development Bank (ADB).
“After accounting for external debt repayments, the SBP reserves increased by $188 million to $13,298.5 million,” it added.
The liquid foreign currency reserves held by the country stood at $20,402.4 million, including net reserves held by banks other than the SBP. Net reserves held by banks amounted to $7,103.9 million.
It should be mentioned here that on July 9, 2019, Pakistan received the first loan tranche from the IMF of $991.4 million which helped to increase the reserves.
In late December, the IMF released the second loan tranche of around $454 million.
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