KARACHI: Pakistan’s foreign exchange reserves surged by US$365.7 million to reach US$14.57 billion as of 28th June, according to the State Bank of Pakistan (SBP).
The data released by the SBP said Pakistan’s reserves held by the central bank stood at US$9.38 billion after an increase of US$ 493.7 million.
The SBP statement said the country’s reserves held by the commercial banks were reduced by US$128 million to US$5.18 billion.
“During the week ended on 28-June-2024, SBP reserves increased by US$ 494 million to US$ 9,389.5 million due to official inflows from multilateral agencies,” the SBP added.
Earlier, it was reported that Pakistan’s foreign exchange reserves remained at US$14.207 billion as of June 21. According to a statement issued by the State Bank of Pakistan it held US$8.8958 billion out of the country’s total liquid foreign reserves with commercial banks holding US$5.3115 billion.
The statement added that the SBP’s reserves were reduced by US$239 million because of the payment of external loans.
“During the week ended on 21-June-2024, SBP reserves decreased by US$ 239 million to US$ 8,895.8 million due to external debt repayment,” the SBP’s statement read.
