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.

The overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $18,081.4 million. Net reserves held by banks amounted to $6,592 million.
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