SBP’s reserves rise $13m to $12.8b

KARACHI: The State Bank of Pakistan’s (SBP) net reserves increased by $13 million to $12.82 billion during the week ending on 11th of September.

Detailing the position of the reserves, the SBP, in a statement said that the overall foreign reserves of the country stood at $19.95 billion.

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Giving its breakup, it said that the SBP currently held the foreign reserves of up to $12.82 billion and $7.13 billion reserves held by the commercial banks.

Earlier on September 11, the State Bank of Pakistan’s (SBP) net reserves had been increased by $95 million to $12.8 billion during the week ending on 4th of September.

In a statement, the central bank had attributed the surge mainly to the loan by Asian Development Bank that reflected in the balance sheet.

Detailing the position of the reserves, the SBP had said that the overall foreign reserves of the country stood at 19,961.3 million.