SBP-held foreign exchange reserves increase $15mn, now stand at $9.13bn
- Total liquid foreign reserves held by the country stand at $14.62 billion
Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $15 million on a weekly basis, clocking in at $9.13 billion as of May 10, data released on Thursday showed.
Total liquid foreign reserves held by the country stood at $14.62 billion. Net foreign reserves held by commercial banks stood at $5.49 billion.
The central bank did not specify a reason for the increase in the reserves.
“During the week ended on 10-May-2024, SBP reserves increased by US$ 15 million to US$ 9,135.5 million,” it said.
Last week, Pakistan’s central bank reserves significantly increased by $1.114 billion to reach above $9 billion after nearly two years.
The increase in the dollar stockpile had come in line with reflection of the last tranche of $1.1 billion from the International Monetary Fund (IMF) for its $3 billion Stand-By Arrangement.
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