SBP Gets Proceeds From Eurobond, Reserves Reach 54-Months High
The foreign exchange reserves have soared to $18.2 billion, the highest in the last 4.5 years
State Bank of Pakistan (SBP) has received $1 billion against the issuance of Eurobonds issued last week owing to which the foreign reserves have reached the highest level of the last 54 months.
According to SBP, the foreign exchange reserves have soared to $18.2 billion, the highest in the last 4.5 years.
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Pakistan Raised $2.5bn Through Lucrative Eurobonds
Pakistan has raised $300 million from the sale of five-year bond at 5.875%, $400 million against 10-year paper at 7.125% and another $300 million through 30-year bonds at 8.450%.
The central bank confirmed on Wednesday about receiving bond proceeds.
#SBP has received US$1.0bn proceeds of the government’s tap offering of its recently issued Euro Bond. Accordingly, SBP’s FX reserves, as on 13Jul21, have reached US$18.2bn, which is the highest level since Jan 2017.
— SBP (@StateBank_Pak) July 14, 2021
According to unofficial data, the estimated amount of liquid foreign currency in reserves has crossed $25 billion mark.
