SBP reserves rise $70m to $12.98bn

The foreign exchange reserves held by the State Bank of Pakistan rose 0.54pc on a weekly basis, according to data released by the central bank on Thursday.

On February 26, forex reserves held by the SBP were recorded at $12,978.4 million, up $70 million compared with $12,908.7 million in the previous week.

The central bank attributed the rise to official inflows of the government.

Overall, liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,133.5 million. Net reserves held by banks clocked in at $7,155.1 million.

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