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Foreign exchange reserves surge by $14m: SBP

By News Desk

November 2, 2023 08:32 PM


Foreign exchange reserves held by the central bank surged by $14 million on a weekly basis, clocking in at $7.5 billion as of October 27, the State Bank of Pakistan (SBP) said on Thursday.

According to 24NewsHD TV channel, total liquid foreign reserves stood at $12.5 billion and net foreign reserves held by the commercial banks stood at $5 billion.

“During the week ended on October 27, 2023, SBP’s reserves increased by $14 million to $7,507.8 million,” it said.

Last week, Pakistan’s central bank reserves had decreased by $220 million.

Reportedly, the SBP reserves have been under pressure due to debt repayments, a rise in import payments and a lack of fresh inflows.

 

 


News Desk


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