SBP reserves increase by $484m to $13.4b

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $484 million to $13.4 billion during the week ended on the 20th of November.

According to the data released by the central bank, net reserves held by the SBP stood at $13,415.5 million.

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The overall liquid foreign exchange reserves held by the country stood at $20.5 billion, including $7.13 billion forex holdings of the commercial banks.

Earlier on November 12, the foreign exchange reserves held by the State Bank of Pakistan (SBP) had increased by $558 million to $12.74 billion during the week ended on 6th of November.

According to the data released by the central bank, net reserves held by the SBP had stood at $12.74 billion. “The increase in reserves is mainly attributed to the receipt of $500 million as GOP loan proceeds,” SBP had said.

The overall liquid foreign exchange reserves held by the country had stood at $19.9 billion.