SBP’s reserves up $13m to $12.051bn

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $ 13 million, reaching $ 12.051 billion at the end of last week.

However, the net forex reserves held by commercial banks declined by $32 million to $ 4.55 billion at the end of last week down from $4.582 billion a week earlier.

Accordingly, the country’s total liquid foreign exchange reserves declined by $19 million to stand at $ 16.601 billion as of Dec 6, 2024 compared to $16.620 billion as of November 29, 2024.

During the last week of November, the SBP’s reserves increased by $620, to reach $12.038 billion primarily due to arrival of an official inflow of $500 million from the Asian Development Bank (ADB).

Copyright Business Recorder, 2024