SBP Foreign Exchange Reserves Surge To Another High - Android

State Bank of Pakistan (SBP) continued to receive inflows of foreign exchange which surged to nearly $12 billion. According to… Read More

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State Bank of Pakistan (SBP) continued to receive inflows of foreign exchange which surged to nearly $12 billion.

According to updated statistics, the central bank received inflows of $184 million during the week ending January 24.

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The foreign exchange reserves held by commercial banks stood at $6.44 million showing a slow and consistent decline. The overall foreign exchange reserves of the country surged to stand at $18.36 billion.

An Economic pundit said that the profit rates on the government bonds will attract more investment in the country which will improve the level of foreign exchange reserves further.

The country needs to double its reserves in the period of the next one and half year in order to achieve the desired results including repayment of foreign loans.

The improvement in foreign exchange will bring stability in Rupee versus Dollar and ease off the pressure on the current account.

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