SBP foreign exchange reserves rise by $19 million to reach $9.42 billion

The State Bank of Pakistan (SBP) reported a $19 million increase in its foreign exchange reserves, bringing the total to $9.42 billion as of July 12, according to data released on Thursday.

The country's total liquid foreign reserves now amount to $14.7 billion, with commercial banks holding $5.28 billion in net foreign reserves.

The SBP did not specify the reason behind the weekly increase in reserves.

"During the week ending July 12, 2024, SBP reserves grew by $19 million to $9,423.7 million," the central bank stated.

In the previous week, SBP's foreign exchange reserves had increased by $16 million.