State Bank reserves rise by $116m, total reaches $11.15b

The State Bank of Pakistan’s (SBP) foreign exchange reserves increased by $116 million over the past week, bringing the total to $11.15 billion, sufficient to cover approximately two months of import payments, according to the SBP.

Meanwhile, deposits held by commercial banks saw a decline, dropping by $8.38 billion to a total of $4.89 billion.

The country’s overall foreign exchange reserves rose by $3.19 million during the week ending October 25, lifting the national reserve balance to $16.04 billion, as reported by the State Bank of Pakistan.