The foreign exchange reserves held by the State Bank of Pakistan (SBP) increase by $620 million on a weekly basis according to data issued by the central bank on Thursday.
According to the latest data released by the SBP, on November 29, the foreign currency reserves held by the SBP were recorded at $12.038 billion, up $620 million compared to $11.419 billion on November 22. The increase took the reserves to the highest level since March 2022.
It is pertinent to mention here that the central bank recently received $500 million from Asian Development Bank (ADB) as proceeds of a loan to the Government of Pakistan for Climate Change and Disaster Resilience Enhancement Program (CDREP).
Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $16.620 billion, up 544 million over the previous week.
The net reserves held by banks were recorded at $4.582 billion, registering a decrease of $77 million during the week.
Follow ProPakistani on Google News & scroll through your favourite content faster!
Support independent journalism
If you want to join us in our mission to share independent, global journalism to the world, we’d love to have you on our side. If you can, please support us on a monthly basis. It takes less than a minute to set up, and you can rest assured that you’re making a big impact every single month in support of open, independent journalism. Thank you.
