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.