Monday, April 12, 2021  | 28 Shaaban, 1442
Samaa TV
Facebook Twitter Youtube
HOME > Money

Pakistan’s foreign exchange reserves at a three-year high

The last time reserves were at this level was in January 2018

SAMAA | - Posted: Nov 27, 2020 | Last Updated: 5 months ago
Posted: Nov 27, 2020 | Last Updated: 5 months ago
Pakistan’s foreign exchange reserves at a three-year high

Photo: AFP

Pakistan’s foreign exchange reserves jumped to $13.415 billion when the week ended on November 20, according to information shared by the State Bank of Pakistan (SBP).

The last time Pakistan’s foreign exchange reserves were at this level was in January 2018. 

Pakistan’s total liquid foreign reserves, foreign exchange held by State Bank plus commercial banks of the country, also crossed $20 billion mark. It stood at $20.552 billion.

State Bank shares foreign exchange reserves data by a week’s delay.

The bank said that the reserves increased by $484 million due to government’s official inflows without giving further details.

Pakistan’s depleting dollar reserves were one of the main challenges for the PTI when it came into power in August 2018. Within its first six months, the PTI government saw dollar reserves down to a level that was barely enough to pay for two months of imports.

To tackle this challenge, Prime Minister Imran Khan’s government signed a $6 billion bailout with the International Monetary Fund (IMF). 

The increase in dollar reserves can be attributed to dollar inflows caused by the signing of the IMF programme, which opened more doors for Pakistan as the World Bank, ADB and AIIB also pledged support.

According to the IMF, the programme was supposed to unlock funding of $38 billion from multilateral donors.

FaceBook WhatsApp

Tell us what you think:

Your email address will not be published.

FaceBook WhatsApp

b4u global pakistan, b4u global investment, b4u global malaysia, b4u scam in pakistan, b4u global scam, b4u global scam or real, b4u trades scam, b4u investment plan pakistan, b4u investment plan pakistan in urdu, b4u registered with secp, b4u registration in pakistan, b4u global registered with secp, b4u investment fake pakistan, b4u investment fake or real, b4u investment fake news, b4u investment fake investment, samaa news live, b4u global, b4u global kya hai

Police detain TLP chief Saad Hussain Rizvi over protest plan
Supreme Court orders demolition of Nasla Tower in Karachi
TLP protesters block major Pakistan roads, highways
PML-N’s Nosheen Iftikhar wins Daska by-election
Punjab mulls complete lockdown in Lahore
Three killed, seven injured in Karachi cylinder blast
About Us   |   Anchor Profiles   |   Online Advertising   |   Contact Us   |   Feedback   |   Apps   |   FAQs   |   Authors   |   Comment Policy
Facebook   |   Twitter   |   Instagram   |   YouTube   |   WhatsApp