Pakistan's foreign exchange reserves stand at US$ 14,58bn

KARACHI: Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by US$22 million, reaching US$9.15 billion from $9.13 billion as of 17^th May 2024, ARY News reported.

According to data shared by the central bank, the net foreign reserves held by commercial banks decreased by US$630 million to $5.43 billion. The total national reserves have decreased by US$41 million to US$14.58 billion.

The total liquid foreign reserves held by the country stood at US$ 14,58 billion

“During the week ended on 17-May-2024, SBP reserves increased by US$ 22 million to US$ 9,157.0 million,” the SBP’s statement added.

Earlier on May 16, the SBP said that Pakistan’s foreign exchange reserves increased by $150 million.

With the increase in Pakistan’s foreign exchange reserves, the SBP disclosed that the country’s reserves exceeded $9.13 billion.

Simultaneously, commercial banks’ reserves also increased by $15.20 billion to settle at $5.49 billion, as confirmed by the SBP.