SBP reserves rise to $17.6bn

On August 13, the foreign exchange reserves of the country held by the State Bank of Pakistan (SBP) reached $17.62 billion as they increased by $3 million on a weekly basis. The official data was released by the central bank on Friday.

The foreign exchange reserves of Pakistan were $17,622 million on July 30 and they escalated by $3 million.

Reports show that the net reserves held by banks equalled $7,042.2 million. Furthermore, the overall liquid foreign currency reserves of Pakistan, including net reserves held by commercial banks amounted to $24,668.1 million.

Currently, the central bank has not given any particular reason behind the increase in reserves.

Monitoring Desk
Monitoring Desk
Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.

Must Read

Pakistan’s IT exports could exceed $25b through better utilization of resources:...

ISLAMABAD: Prime Minister Shehbaz Sharif has said that Pakistan's IT exports could exceed twenty-five billion dollars through better utilization of resources and provision of training...