Forex reserves rise $284 million to $23.578 billion

KARACHI: The liquid foreign exchange reserves of the country increased $284 million to $23.578 billion by the week ended June 4, 2021, the central bank reported on Thursday.

The foreign exchange reserves of the country were at $23.294 billion by the week ended May 28, 2021.
The official foreign exchange reserves of the State Bank of Pakistan (SBP) recorded an increase of $281 million to $16.415 billion by the week ended June 4, 2021, compared with $16.134 billion a week ago.

The SBP attributed the increase in the foreign exchange reserves during the week to proceeds received against the Water and Power Development Authority’s (Wapda) Green Eurobond, amounting to $499 million.

The foreign exchange reserves held by commercial banks witnessed a nominal rise to $7.163 billion by the week ended June 4, 2021, compared with $7.16 billion a week ago.