SBP reserves surge above $11bn, highest in 30 months

KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves increased by $215 million to $11.022 billion during the week ended on Oct 11.

According to a statement issued by the central bank, total liquid foreign reserves held by the country stood at $16.11 billion. Net foreign reserves held by commercial banks stood at $5.09 billion.

“During the week ended on 11-Oct-2024, SBP reserves increased by US$ 215 million to US$ 11,022.7 million,” it said.

The central bank did not specify a reason for the increase in reserves.

Earlier on October 10, Pakistan’s total foreign exchange reserves stood at US$ 16. 04 billion during the week ended on 4th October 2024.

According to a statement issued by the central bank, Pakistan’s reserves held by the SBP increased by US$ 106 million to US$ 10.8 billion during the period.