SBP’s reserves hit all-time high at USD21.4bn
With arrival of Eurobond inflows, the State Bank of Pakistan’s (SBP) foreign exchange reserves have surged to all-time high level of USD 21.4 billion mark. In the first week of September, Pakistan has raised some USD 3 billion through a landmark dual-tranche Eurobond issuance, marking its largest-ever global bond transaction in a single offering. The government split USD 3 billion Eurobond issuance into two tranches, including a USD 1.75 billion 5.5-year bond and a USD 1.25 billion 10-year bond. The issue attracted nearly double offers of USD 6 billion from global investors.