Pakistan’s forex reserves reach record high of $27.227 billion

KARACHI: Pakistan’s foreign exchange reserves have reached an all-time high of $27.228 billion by the week ended August 27, 2021.

The foreign exchange reserves have increased $2.609 billion during the week under review. The total liquid exchange reserves of the county were $24.619 billion by the week ended August 20, 2021, the State Bank of Pakistan (SBP) reported on Thursday.

The official forex reserves maintained by the central bank also reached a historic high of $20.146 billion by the week ended August 27, 2021.

The SBP said during the week ended August 27, 2021, the central bank received the proceeds from the IMF SDR allocation worth $2.752 billion. After accounting for external debt payments, the forex reserves increased $2.567 billion to $20.146 billion.

The foreign exchange reserves held by commercial banks increased nominally to $7.082 billion by the week ended August 27, 2021 as against $7.040 billion a week ago.