SBP reserves increase by $55 million to over $12 billion

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $55 million to $12.121 billion during the week ended on October 23.

According to data released by the central bank, the reserves held by the SBP recorded a 0.45pc increase on a weekly basis.

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The overall liquid foreign exchange reserves held by the country stood at $19.296 billion, including $7.175 billion forex holdings of the commercial banks.

On October 22, the State Bank of Pakistan (SBP) had announced an increase of $268 million in the foreign reserves of the country during the week ended on 16 October. The total liquid foreign reserves held by the country currently stood at US$ 19,301.6 million on 16 October-2020.

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The reserves held by the State Bank of Pakistan stood at US$ 12,066.6 million as compared to US$ 7,235 million reserves held by the commercial banks.