| Karachi: The foreign exchange reserves held by the State Bank of Pakistan (SBP) saw a rise of $24 million on a weekly basis, as reported by the central bank on Thursday. According to the data released by the SBP, the reserves reached $9.53 billion as of September 20, compared to $9.51 billion recorded on September 13.
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This increase in the central bank’s reserves forms part of the broader picture of the country’s overall foreign currency reserves. The total liquid foreign reserves, which also include net reserves held by banks other than the SBP, amounted to $14.873 billion as of September 20. This marks a $47 million increase from the previous week.
Net reserves held by banks, excluding those held by the SBP, were reported at $5.34 billion. This reflects a rise of $23 million during the week, further contributing to the overall stability in Pakistan’s foreign currency reserves.
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Additionally, it was noted that the Asian Development Bank (ADB) has signed a $500 million funding agreement aimed at supporting education initiatives in Pakistan and other Asian countries, which could further strengthen Pakistan’s economic and financial position. |
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