KARACHI: (HRNW) The foreign exchange reserves held by State Bank of Pakistan (SBP) increased by $18 million to $4.319 billion, media reported on Thursday, citing data issued by the central bank.
In a statement, the State Bank of Pakistan (SBP) stated that its foreign exchange reserves increased by $18 million to $4.319 billion as of the week ended March 10, which will provide an import cover of around a month.
Meanwhile, the net forex reserves held by commercial banks stand at $5.527 billion, $1,208.6 billion more than the SBP, bringing the total liquid foreign reserves of the country to $9.846 billion.
This is the fifth successive increase in the forex reserves on a weekly basis. However, the central bank did not mention any reason behind an increase in SBP-held reserves.