KARACHI: Foreign exchange reserves of the State Bank of Pakistan (SBP) rose by $11 million to $21.4 billion during the week ending Sept 18, the central bank announced on Thursday.
Last week, SBP forex reservessurgedby$3bn,pushing the totalto a record high. The inflow camefrom Eurobond issuance.
The country’s total reserves reached $26.8bn, including $5.41bn held by commercial banks.
The government has decided to borrow from the international markets instead of getting loans from bilateral and multilateral sources.-Staff Reporter