SBP exchange reserves record $252 million surge in a week

SBP exchange reserves record $252 million surge

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KARACHI: The State Bank of Pakistan (SBP) recorded an increase of 252 million dollars in its foreign reserves in a week ending April 10, ARY News reported.

The central bank, releasing its weekly reserves report, stated its reserves stood at 10.97 billion dollars.

The report shows foreign liquidity held by commercial banks at 6.32 billion dollars.

The country’s net reserves were recorded at 17.29 billion dollars, according to the SBP report.

Read More: SBP reserves dip $465mn

Last week, the foreign exchange reserves held by the SBP recorded a $465mn decline.

The reserves held by the SBP were recorded at $10.72 million. The decline was attributed to external debt repayments.

Whereas the country’s net foreign reserves were calculated to be $16.98 billion. Private banks’ holdings stood at $6.26 billion.