Forex reserves rise to $18.123bln with an increase of $82 million in just last week

Foreign Exchange Reserves Held By Commercial Banks Dropped To $6.537 Billion

The Central Bank reported that Pakistan’s foreign exchange reserves rose to $18.123 billion on Thursday. The significant rise can be compared to last weeks, $18.084 billion.

Forex Reserves Of The State Bank Of Pakistan (SBP)

The Forex reserves of the State Bank of Pakistan (SBP) increased to $11.586 billion in the week ending on January the 10th, 2020. Only a week ago, the foreign reserves were reported to be $11.503 billion.

Forex said “During the week ending January the 10th, 2020, the SBP’s Forex reserves increased from $82 million to $11,586.0 billion,”

The foreign exchange reserves held by commercial banks dropped to $6.537 billion from last week’s $6.581 billion.

Additionally, the rupee strengthened against the dollar, reports said on Wednesday. The rupee closed in at 154.77 against the greenback from the previous closing of 154.85.  The strengthening comes after the Global credit rating agency Fitch predicted Pakistan’s long-term foreign currency improvement.

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