The foreign exchange reserves held by the State Bank of Pakistan (SBP)increased by 1.13 percent during the week ending May 7, 2021, SBP datashowed on Monday.

According to the central bank data, the foreign currency reserves held bythe SBP were recorded at $15,774.5 million. This is $177 million upcompared to $15,597.9 million recorded in the previous week.

According to a statement by the SBP, the increase in reserves was broughton by the official inflows of the government.

Overall liquid foreign currency reserves, including net reserves held bycommercial banks other than the SBP, stood at $22,910.3 million.

Net reserves held by SBP and other banks were recorded at $7,135.8 million.

Part of these reserves can be traced back to the issuance of Eurobonds onMarch 30, 2021, which brought $2.5 billion. Furthermore, $2.5 billion wasalso received from China.

On the outflow side, the SBP successfully made foreign debt repayment ofover $1 billion on the maturity of Sukuk in 2020.