KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves have surged by 3.4% on week ended July 3.
According to data released by the central bank, SBP’s liquid foreign exchange reserves increased $447 million to $13,535 million ($13.535 billion) compared to $13,088 million in the previous week. The increase in reserves is mainly attributed to the receipt of $514 million from multilateral and bilateral sources, which included $506 million from the IMF under the Extended Fund Facility.
The SBP also made payments of $72 million on account of external debt servicing and other official payments during the week. Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $18,714.6 million while net reserves held by banks amounted to $5,179.4 million.
