SBP Reserves Hit Highest Level Since July 2023

The foreign exchange reserves held by the State Bank of Pakistan (SBP) posted an increase of $33 million on a weekly basis according to data issued by the central bank on Thursday.

The increase took the reserves held by the central bank to the highest level since July 7, 2023.

According to the latest data released by the SBP, on August 30, the foreign currency reserves held by the SBP were recorded at $9.437 billion, up $33 million compared to $9.403 billion on August 23.

Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $14.740 billion, down 36 million over the previous week.

The net reserves held by banks were recorded at $5.303 billion, registering a decline of $70 million during the week.