Pakistan’s Foreign Currency Reserves increased by $443 million in just one week

According to the state bank statement, the Foreign Exchange Reserves of the State Bank of Pakistan increased by 5.6% which is equal to 443 million US dollars on a weekly basis.

By the end of the week on November 1, Pakistan’s foreign currency reserves held by the central bank of the country were recorded at 8,357.6 million dollars, up 443.3 million dollars compared with 7,914.3 million dollars in the previous week.

Read Also: State Bank issues a commemorative coin of Rs550 to mark the birth anniversary of Baba Guru Nanak

Here are the WEEK-END LEVELS of Pakistan’s Foreign Exchange Reserves;

END PERIODNET RESERVES WITH SBPNET RESERVES WITH BANKSTOTAL LIQUID FX RESERVES
04-Oct-197,757.67,235.314,992.9
11-Oct-197,813.77,328.915,142.6
18-Oct-197,892.77,293.815,186.5
25-Oct-197,914.37,175.415,089.7
01-Nov-198,357.67,160.315,517.9

In its report, the State Bank of Pakistan (SBP) cited no reason for the increase in the foreign currency reserves, according to the Tribune.

The rumors are circulating on social media that the increase of 443 million dollars in Pakistan’s foreign exchange reserves is a result of the deal between the former Prime Minister Nawaz Sharif and the government of Pakistan.

The people are also saying that Nawaz Sharif submitted the first installment of the payment as per the deal signed between him and the government.

Leave a Reply

Your email address will not be published. Required fields are marked *