KARACHI: State Bank of Pakistan Foreign Exchange reserves register yetanother increase.
Foreign exchange reserves held by the State Bank of Pakistan (SBP)increased by $32 million to $12,789.9 million during the week ending March6, 2020, according to data released by the central bank on Thursday.
The total liquid foreign reserves held by the country stood at $18,904.6million.
Net foreign reserves held by commercial banks increased marginally, from$6111.5 million in the week ending February 28, to $6114.7 million in thesucceeding week.
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The central bank did not cite a reason for the increase in state bankreserves, or slight increase in net foreign reserves held by commercialbanks.
The total liquid foreign reserves have consistently been on the rise forthe past eight months. The total reserves initially crossed the $15 billionmark in July 2019, crossed the $16 billion mark in November 2019, andfinally crossed the $18 billion mark in January 2020.
