In positive economic development, Pakistan Foreign Exchange reserves register yet another Rise

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In positive economic development, Pakistan Foreign Exchange reserves register yet another Rise

*KARACHI: **In positive economic development, Pakistan Foreign Exchange reserves register yet another Rise.*

The foreign exchange reserves held by the central bank increased 1.28% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.

On February 7, the foreign currency reserves held by the SBP were recorded at $12,430.8 million, up $157 million compared with $12,273.7 million in the previous week.

Overall, liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $18,735.4 million. Net reserves held by banks amounted to $6,304.6 million.

Pakistan received the first loan tranche of $991.4 million from the International Monetary Fund (IMF) on July 9 last year, which helped bolster the reserves. In late December, the IMF released the second loan tranche of around $454 million.