SBP reserves surge $582m to $11.5bn

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 5.3pc on a weekly basis

According to a statement issued by the central bank, the foreign currency reserves held by the SBP were recorded at $11,489.4 million as on December 27, up $582 million compared with $10,907.3 million in the previous week.

"This increase is attributed to bilateral and multilateral inflows including $452.4 million received from the IMF under the Extended Fund Facility (EFF)," the statement added.