The State Bank of Pakistan (SBP) disclosed information on Thursday showing that the central bank’s foreign exchange reserves had increased by $31 million over the previous week.
The SBP’s foreign currency reserves increased by $31 million, from $7.615 billion on September 28 to $7.647 billion on October 6.
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The total liquid foreign currency reserves held by the country, including net reserves held by institutions other than the SBP, decreased by $1 million from the previous week to $13,030 billion. The net reserves held by banks decreased by $32 million during the week, reaching $5,383 billion.
The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $31 million over the past week, reaching $7.64 billion as of Thursday, October 6.
The country’s total liquid foreign reserves amounted to $13.03 billion. The total amount of net foreign reserves held by commercial banks was $5.39 billion.
The central bank provided no explanation for the increase in reserves.
“During the week that ended on October 6, 2023, SBP’s reserves increased by $31 million to $7,646.7 million,” it stated.
The reserves of Pakistan‘s central bank decreased by $21 million in the past week.
Pakistan received $1.2 billion from the IMF in July for a $3 billion standby.
It also received funds from Saudi Arabia and the United Arab Emirates.
However, debt repayments, import payments once restrictions were lifted, and a lack of new inflows have strained central bank reserves.
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