Pakistan’s Forex Reserves Rise

The State Bank of Pakistan’s (SBP) foreign exchange reserves saw an increase of $167 million on a weekly basis, reaching $11.68 billion as of June 6, according to data released this Thursday.

The country’s total liquid foreign reserves amounted to $16.88 billion. The net foreign reserves held by commercial banks were $5.12 billion.

The central bank did not specify a reason for the increase in foreign exchange reserves.

“During the week concluding on June 6, 2024, the SBP reserves grew by US$ 167 million, reaching US$ 11,675.6 million,” the bank stated.

The preceding week had seen a decrease of $7 million in SBP-held reserves on a weekly basis.