• Foreign reserves rise to $14,375.1 million

    Foreign reserves rise to $14,375.1 million File photo Foreign reserves rise to $14,375.1 million

    The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose 0.45% on a weekly basis, according to data released by the central bank on Thursday.

    The SBP’s press release states, “On August 18, the foreign currency reserves held by the central bank were recorded at $14,375.1 million, up $64.6 million or 0.45%, compared to $14,310.5 million in the previous week, according to the central bank.”

    However, no reason was cited for the increase.

    According to the central bank, total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,046.3 million. Net reserves held by banks amounted to $5,671.2 million.

    In January, the SBP made a $500-million loan repayment to the State Administration of Foreign Exchange (SAFE), China.

     

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