KARACHI: Pakistan’s foreign exchange reserves continue to receive handsome inflows that have raised their level to over $23.2 billion. These inflows have strengthened the Rupee position against US Dollar and beneficial to the economy for the repayment of loans.
In 2020, the SBP successfully made foreign debt repayment of over $1 billion on the maturity of Sukuk.
The central bank attributed the rise to the receipt of proceeds of $2.5 billion against the issuance of Eurobonds.
Saad Hashemy, executive director at BMA Capital, said this is an extremely positive development and credit goes to the government for the issuance of the Eurobonds.
The foreign exchaqnge reserves held by the central bank rose 19.1% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.