Pakistan’s Forex Reserves See Weekly Increase

According to data released on Thursday, the State Bank of Pakistan (SBP) saw its foreign exchange reserves grow by $118 million on a weekly basis. As of May 2, the reserves stood at $10.33 billion.

The country’s total liquid foreign reserves amounted to $15.48 billion. Commercial banks held net foreign reserves of $5.15 billion.

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

The SBP stated that reserves increased by US$ 118 million to US$ 10,332.5 million during the week ending on May 2, 2024.

In the previous week, the SBP’s foreign exchange reserves had risen slightly by $9 million, reaching $10.21 billion.