The Foreign reserves of Pakistan reaches to $16bn after arrival of $2.5bn—the highest level since July 2017.
ISLAMABAD: The State Bank of Pakistan (SBP) received the proceeds of the government’s $2.5 billion eurobond issuance in its account.
Taking to Twitter, SBP wrote: “#SBP has received the proceeds of government’s US$2.5bn Euro Bond issuance in its account. As a result, SBP’s FX reserves closed above US$16bn today, their highest level since July 2017,”.
The State Bank said that its foreign exchange reserves soared to $16bn after arrival of $2.5bn –the highest level since July 2017.
The country last month rolled out three separate Eurobonds in the international market, with having a time frame between 5 years to 30 years and an interest rate ranging between 6 percent to 8.87 percent.
The five-year eurobond rolled out with an interest rate of six per cent was able to fetch US$1 billion while another bond for a duration of 10 years with an interest rate of 7.73 percent was able to yield US$1 billion.
The country at 8.87 per cent was able to garner US $500 million after the 30-year Euro bond was floated.
