SBP reserves up $95m to $12.8bn

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan increased 0.74pc on a weekly basis, according to data released by the central bank on Thursday.

On Sept 4, foreign currency reserves held by the SBP were recorded at $12,807.8 million, up $95 million compared with $12,712.7 million in the previous week.

The central bank attributed the increase to proceeds worth $121 million received from the Asian Development Bank (ADB).

The overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $19,961.3 million. Net reserves held by banks amounted to $7,153.5 million.