SBP reserves surge $33mn to $13bn

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $33 million compared with $12,998 million in the previous week, ARY News reported.

According to the data released by the central bank, net reserves held by the SBP stood at $13,031 million.

Overall, liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,163 million. Net reserves held by banks amounted to $7,131.9 million.

Total liquid foreign #reserves held by the country stood at US$ 20.16 billion as of January 29, 2021. For details: https://t.co/WpSgomnd3v pic.twitter.com/3UcYFfRPtT

— SBP (@StateBank_Pak) February 4, 2021

The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $15 million.

Meanwhile, the Pakistani rupee continued to strengthen against the United States (US) dollar as it appreciated by 20 paisa against the greenback in the interbank on Thursday.

According to the State Bank of Pakistan (SBP), the dollar closed at Rs159.99 against the local currency as compared to yesterday’s closing rate of Rs160.19.