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Forex reserves rise to $23.577bln

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KARACHI: Pakistan’s overseas trade reserves elevated $283 million, or 1.21 %, within the week that ended June 4, the central financial institution reported on Thursday.

The full liquid overseas trade reserves held by the nation stood at $23.577 billion, in contrast with $23.294 billion every week in the past. Through the week, the State Financial institution of Pakistan (SBP) obtained proceeds of WAPDA Inexperienced Eurobond, amounting to $499 million, the SBP mentioned in a press release.

After accounting for exterior debt repayments, the SBP reserves elevated $281 million to $16.414 billion, it added.

The overseas trade reserves held by industrial banks inched up to $7.163 billion from $7.160 billion.

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