Foreign exchange: SBP reserves rise $1.61bn to $17.34bn

KARACHI: The foreign exchange reserves held by the central bank surged 10.23% during a week ending on February 4, according to data released by the State Bank of Pakistan (SBP) on Thursday.

Sharing a break-up of the foreign reserves position, the central bank said the foreign currency reserves held by the SBP were recorded at $17,336.8 million, up $1,609 million compared with $15,727.6 million on January 28.

According to the central bank, the increase came due to the receipt of $1,053 million from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) programme.

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Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $23,720.9 million.

Net reserves held by banks amounted to $6,384.1 million.