SBP reserves jump $275m to $13.3bn

The foreign exchange reserves held by the State Bank of Pakistan rose 2.11pc on a weekly basis, according to data released by the central bank on Thursday.

On March 19, forex reserves held by the SBP were recorded at $13,295 million, up $275 million compared with $13,019.7 million in the previous week. The central bank gave no reason for the increase in reserves.

Overall, liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,434.6 million. Net reserves held by banks amounted to $7,139.6 million.