State Bank of Pakistan Foreign Exchange reserves register yet another increase

Shares
State Bank of Pakistan Foreign Exchange reserves register yet another increase

KARACHI: State Bank of Pakistan Foreign Exchange reserves register yet another 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 March 6, 2020, according to data released by the central bank on Thursday.

The total liquid foreign reserves held by the country stood at $18,904.6 million.

Net foreign reserves held by commercial banks increased marginally, from $6111.5 million in the week ending February 28, to $6114.7 million in the succeeding week.

The central bank did not cite a reason for the increase in state bank reserves, or slight increase in net foreign reserves held by commercial banks.

The total liquid foreign reserves have consistently been on the rise for the past eight months. The total reserves initially crossed the $15 billion mark in July 2019, crossed the $16 billion mark in November 2019, and finally crossed the $18 billion mark in January 2020.

More from this category