KARACHI: Forex reticent amounted to $12.88bn

The total liquid foreign reserves of the state have risen to $ 12.88408 billion, while the situation of foreign investment remained dismal.

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The total of direct foreign investment is only $750 million during the last ten months, which is 13 per cent less as compared to the same time period of the former year.

As stated by State Bank of Pakistan (SBP) weekly announcement the foreign reserves held by central bank on May 9, amounted to $ 8.01908 billion.

Meanwhile, the net foreign reserves held by banks were $ 4.865 billion, revealed SBP.

During the week, SBP’s liquid foreign reserves increased by $ 780 million to $ 8,020 million compared to $ 7,240 million in the previous week.

The increment in the Central Bank’s reserves is mainly attributed to inflows of $ 1,050 million from multilateral and bilateral sources, of which $ 1,006 million were received from the World Bank.

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