KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) surged by 7.8% on a weekly basis on July 1, according to data released by the central bank.
SBP’s liquid foreign exchange reserves increased $1,309 million to $18,129 million compared to $16,820 million in the previous week.
During the week, the SBP received $1,340 million from multilateral, bilateral and other official sources that included $501 million from the IMF, $502 million from the World Bank and $307 million from the Asian Development Bank. During the week, the SBP made payments of $50 million on account of external debt servicing.
