| Karachi: The State Bank of Pakistan (SBP) saw a marginal increase in foreign exchange reserves, with a USD 4 million rise according to data released by the central bank on Thursday, according to a news article issued on March 28.
Read: SBP allows advance payments on imports, modifies trade rules
As of March 22, SBP’s foreign currency reserves reached USD 8.022 billion, up slightly from USD 8.018 billion recorded on March 15. The country’s overall liquid foreign currency reserves, inclusive of net reserves held by banks other than SBP, totalled USD 13.428 billion, marking a USD 37 million increase from the previous week. Net reserves held by banks amounted to USD 5.406 billion, showing a USD 33 million rise during the week.
Read:SBP maintains 22% interest rate, adjusts inflation projection
Notably, last week saw an agreement between IMF staff and Pakistani authorities on the final review under Pakistan’s Stand-By Arrangement. Pending approval from the IMF’s Executive Board, this agreement is expected to enable Pakistan to access the last loan tranche of USD 1.1 billion, which would further bolster the country’s reserves. |
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