The State Bank of Pakistan (SBP)’s foreign exchange reserves increased by $243 million on a weekly basis, according to figures released by the central bank On January 19
The SBP’s foreign currency reserves were recorded at $8.27 billion, an increase of $243 million from $8.027 billion on January 12.
In a statement, the central bank stated that it received the second tranche of $705 million from the International Monetary Fund (IMF) under the $3 billion Stand-By Arrangement (SBA) and completed the government’s foreign debt repayment.
The country’s overall liquid foreign currency reserves, including net reserves held by banks other than the SBP, was $13.341 billion, up $196 million from the previous week. Banks’ net reserves stood at $5.071 billion, a $47 million fall over the week.
To read our blog on “SBP maintains the 22% key policy rate unchanged,” click here
