SBP's forex reserves rise above $4b mark

The State Bank of Pakistan (SBP), in a statement issued here on Thursday, stated that reserves held by the central bank increased by $487 million to $4,301.0 million while net foreign reserves held by commercial banks were at $5,453 million.

Following the receipt of $500 million as GoP commercial loan from China, the total liquid foreign reserves held by the country reached $9,754.0 million as of March 3, it added.

In the previous week ended on February 24, total liquid foreign reserves hold by the country was $9,267.9 million. Among these, the foreign reserves held by the SBP were $3,814.1 million while net foreign reserves held by commercial banks were $5,453.8 million.