SBP Reserves Increase by a Massive $558 Million in a Single Week

Pakistan’s foreign exchange reserves witnessed handsome inflows of $558 million during the week ending on November 06.

According to the State Bank of Pakistan (SBP), the increase in reserves is mainly attributed to the receipt of $500 million by the Government of Pakistan as part of the loans from different foreign agencies.

The break-up of the foreign reserves position is as under:-

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Foreign reserves held by the State Bank of Pakistan stood at $12.740 billion.
Net foreign reserves held by commercial banks stood at $7.166 billion.
Overall, the total liquid foreign reserves of the country stood at $ 19.906 billion.

It is pertinent to mention here that reserves inflows continued to mobilize in the accounts of the central bank as well as the commercial banks.