SBP reserves surge $33m to $13bn

The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $33 million compared with $12,998 million in the previous week with net reserves at $13,031 million, according to the data released by the central bank on Thursday.

Overall, liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,163 billion. Net reserves held by banks amounted to $7,131.9 million.

The foreign exchange reserves held by the SBP fell by $15 million.

Meanwhile, the Pakistani rupee continued to strengthen against the United States (US) dollar as it appreciated by 20 paisa against the greenback in the interbank on Thursday.

According to the SBP, the dollar closed at Rs159.99 against the local currency as compared to yesterday’s closing rate of Rs160.19.

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