ISLAMABAD: After a slight increase the total liquid foreign reserves of the country reached US$12,206.4 million whereas the reserves held by the State Bank of Pakistan (SBP) settled at $7,040.8 million, according to a statement issued by SBP here on Thursday.
As per the statement, reserves held by the central bank increased by $21 million to settle at $7,040.8 million during the week ended on December 08, 2023.
Meanwhile, the net foreign reserves held by the commercial banks in the country also witnessed a slight increase and went up to $5,165.6 million, the statement maintained.
Total liquid foreign reserves held by the country, in the earlier week ended on December 01, 2023, were recorded as $12.107 billion. Among them, foreign reserves held by SBP were $7.02 billion while net foreign reserves held by commercial banks were recorded as $5.087 billion.
Increase in Foreign Reserves
Authorities in Pakistan are in continues engagement with the IMF for the release of the 2nd tranche of the $3bn Standby Agreement which is expected next month. After the release of the 2nd tranche Pakistan’s foreign reserves are expected to surpass $13bn with further possible inflows from multilateral and bilateral partners in the days to come.
