SBP Reserves Increase by $281 Million in a Week

Pakistan’s foreign exchange reserves had maintained their stability with consistent growth that had fresh inflows of $499 million by the week that ended on 4 June 2021, according to the State Bank of Pakistan (SBP). During the outgoing week, the SBP had received the proceeds of the Water & Power Development Authority (WAPDA) Green Eurobond amounting to $499 million. After accounting for the external debt repayments, the overall foreign exchange reserves had surged to $23.5 billion. ALSO READ First Time Ever: SBP Allows Mentally Challenged Persons to Open Bank Accounts The SBP’s reserves increased by $281 million to $16.414 billion, and the reserves held by the commercial banks stood at $7.1 billion. The SBP’s foreign exchange reserves had recently risen to $16 billion — a four-year high.