Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $24 million on a weekly basis, clocking in at $9.53 billion as of September 20, data released on Thursday showed.
Total liquid foreign reserves held by the country stood at $14.87 billion. Net foreign reserves held by commercial banks stood at $5.34 billion.
The central bank did not specify a reason for the increase in reserves.
“During the week ended on 20-Sep-2024, SBP reserves increased by US$ 24 million to US$ 9,533.6 million,” it said.
Last week, SBP foreign exchange reserves increased by $43 million.
In a key development, the International Monetary Fund (IMF) Executive Board on Wednesday approved the 37-month, $7-billion Extended Fund Facility for Pakistan.
The IMF is expected to immediately release an initial tranche of $1.1 billion, which will boost the country’s foreign exchange reserves.
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