SBP Reserves Post Marginal Increase to Stay Above $7.5 Billion

The foreign exchange reserves held by the central bank increased marginally on a weekly basis according to data released by the State Bank of Pakistan (SBP) on Friday.

On November 3, the foreign currency reserves held by the SBP were recorded at $7.511 billion, up $3.7 million compared to $7.508 billion on October 27.

Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $12.614 billion, up $37.6 million over the previous week. The net reserves held by banks stood at $5.101 billion, registering an increase of $34 million during the week.

The central bank’s reserves had slipped below $7.5 billion on October 20, however, two slight but consecutive increases have pushed reserves over $7.5 billion again.