News Desk
ISLAMABAD: Foreign exchange reserves held by the State Bank of Pakistan surged by 66 million dollars to 3.26 billion dollars, in the second successive increase in a week
According to the latest data released by SBP, Pakistan’s total liquid foreign reserves stood at 8.73 billion dollars. Net foreign reserves in the commercial banks stood at 5.47 billion dollars.
“During the week ended on 17 February 2023, the central bank’s reserves surged by 66 million dollars to 3,258.5 million dollars.
SBP’s reserves last week
Last week, SBP’s reserves increased 276 million dollars to 3.19 billion dollars. This was the first increase in reserves after 3 weeks.
The SBP reserves, which stood at about 18 billion dollars at the start of 2022 but have undergone considerable depletion in recent months, highlighted the urgent need for Pakistan to reach at a deal with International Monetary Fund (IMF) program.
