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The State Bank of Pakistan’s Foreign Exchange Reserves Hit All Time High

Islamabad: the State Bank of Pakistan’s foreign exchange reserves achieved an all-time high of $20.15 billion, surpassing the previous record of $19.3 billion.

According to details, the reserves includes $15.24 billion that are with the State Bank of Pakistan (SBP) while another $4.83 billion are held by the commercial banks.

In response to the International Monetary Fund’s (IMF) allocation of $2.75 billion in Special Drawing Rights to the central bank, the central bank increased its reserves (SDRs). According to figures issued by the State Bank of Pakistan, after accounting for external debt payments, the SBP’s reserves climbed by 14.63 percent, or $2.567 billion, to $20.1456 billion, as opposed to $17.578 billion on August 20. (SBP).