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Pakistan’s foreign exchange reserves at two-month high at $12.74b

Reserves increased due to loan receipts of $0.5 billion

SAMAA | - Posted: Nov 13, 2020 | Last Updated: 4 months ago
SAMAA |
Posted: Nov 13, 2020 | Last Updated: 4 months ago
Pakistan’s foreign exchange reserves at two-month high at $12.74b

Photo: AFP

Pakistan’s foreign exchange reserves increased by $558 million to $12.74 billion during the week ended on November 6, according to State Bank.

The reserves were at a two-month high during the week. The last time State Bank held reserves higher than this was on September 11.

The increase in reserves is mainly attributed to the receipt of $500 million as government’s loan proceeds.

The total foreign reserves, reserves held by State Bank plus commercial banks, stood at $19.9 billion.

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