SBP foreign exchange reserves increase by $558mn

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $558 million to $12.74 billion during the week ended on 6^th of November, ARY News reported.

According to the data released by the central bank, net reserves held by the SBP stood at $12.74 billion. “The increase in reserves is mainly attributed to the receipt of $500 million as GOP loan proceeds,” said SBP.

The overall liquid foreign exchange reserves held by the country stood at $19.9 billion. However, the commercial banks held $7,166.4 million foreign reserves.

Earlier on November 5, the foreign exchange reserves held by the State Bank of Pakistan (SBP) had increased by $61 million to $12.182 billion during the week ended on October 29.

According to data released by the central bank, net reserves held by the SBP had stood at $12.182 billion.