Forex reserves up by $1.275 billion in July, August
Last updated on: 13 September,2019 03:48 pm
Forex reserves up by $1.275 billion in July, August.
KARACHI (Dunya News) – Improvement in foreign exchange reserves of two months in current fiscal year was witnessed as the forex reserves were up by $1.275 billion in July and August, Dunya News reported on Friday.
As per details, the foreign exchange reserves clocked at $15.751 billion due to the $1 billion loan received by Pakistan from the International Monetary Fund (IMF).
Furthermore, the State Bank of Pakistan (SBP) reserves were up by $1.182 billion to $8.462 billion, and other banks reserves were up by $94 million to $7.290 billion.
It is worth mentioning here that the forex reserves are enough to cover two months imports.