FILE PHOTO: An employee counts U.S. dollar bills at a money exchange in central Cairo, Egypt, March 20, 2019. REUTERS/Mohamed Abd El Ghany
The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by over $70 million on a weekly basis, according to data issued by the central bank on Thursday.
According to the latest data released by the SBP as of May 09, the foreign currency reserves held by the SBP were recorded at $10.403 billion, up $71 million compared to $10.333 billion on May 02.
Total liquid forex reserves held by the country, including net reserves held by banks other than the SBP, stood at $15.614 billion, up $131 million over the previous week.
The net reserves held by banks were recorded at $5.211 billion, registering an increase of $61 million during the week.
Earlier this week, SBP received the second $1.023 billion tranche from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) program.
However, the amount will be reflected in SBP’s foreign exchange reserves for the week ending on May 16, 2025. This effectively means that Pakistan’s foreign exchange reserves would soar comfortably above the $11 billion mark once data for the current week is released next week.
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