Pakistan’s forex reserves reach record high of $25.128 billion

KARACHI: The liquid foreign exchange reserves of the country have increased to a record high of $25.128 billion by the week ended July 16, 2021, according to the data released by the central bank on Friday.

The foreign exchange reserves of the country increased $816 million for the week under review from $24.312 billion by the week ended July 9, 2021.

The available historical data on the official website of the State Bank of Pakistan (SBP) showed the total reserves never reached to this level.

The official reserves of the SBP also increased $845 million to $18.051 billion by the week ended July 16, 2021, compared with $17.206 billion.

The central bank reserves also increased four-and-a-half years high. Previously, the reserves were seen at $18.38 billion on January 20, 2017.

However, the foreign exchange reserves held by the commercial banks fell $29 million to $7.077 billion by the week ended July 16, 2021, compared with $7.106 billion a week ago.