Pakistan’s liquid foreign reserves, which continued to build up in the past couple of weeks with the consistent inflows of foreign exchange through loans or other receipts, now stand at over $20 billion.
The reserves of the State Bank of Pakistan have increased to $12.93 billion as of November 13, 2020, which is the highest level since February 2, 2018.
The reserves maintained by commercial banks stood at $7.15 billion. The total liquid foreign reserves held by the country rose to $20.08 billion, according to the State Bank of Pakistan (SBP).
A.A.H Soomro, Managing Director at Khadim Ali Shah Bukhari, tweeted:
Pakistan's FX touch $20b mark after 34 months.
Thanks to money from lenders (IMF/WB/ADB), low Trade Deficit, formal Remittances & less outward tourism.
– Minimize informal channels for FX outflows
– Create world-class local tourism industry
– Save low oil savings pic.twitter.com/BnrxKYKcJz
— A A H Soomro (@AAHSoomro) November 19, 2020