KARACHI: Foreign exchange reserves of the country and the State Bank of Pakistan (SBP) reached to almost three-and-a-half-year high, improving government’s ability to meet its external liabilities.

The SBP on Thursday reported that the total foreign exchange reserves of the country during the week ended on Nov 20 increased by $466.8 million to $20.55 billion — highest since 2016-17 when they peaked at $21.4bn.

Meanwhile, reserves held by the SBP increased by $484.3m during the week under review to $13.415bn.

Meanwhile, during the week under review, foreign exchange reserves held by commercial banks fell by $17.5m to $7.137bn. FX reserves held by the commercial banks have improved since June this year from $6.75bn.

Published in Dawn, November 27th, 2020