KARACHI: The State Bank’s foreign exchange reserves remained above $8 billion during the week ending April 12.

“During the week, SBP has executed the repayment of $1bn maturing Pakistan’s International Bond (principal plus interest),” said the SBP press release issued on Thursday.

It was encouraging for the financial market that despite the payment of $1bn, the SBP reserves remained intact at $8bn. So far, no foreign inflow has been noted in the central bank’s accounts after the payment of $1bn.

The SBP reserves increased by $14.4m during the week. The country’s total reserves were $13.373bn including $5.319bn held by the commercial banks.

Published in Dawn, April 19th, 2024