SBP Reserves at 2-Year High After Another Weekly Increase

The foreign exchange reserves held by the State Bank of Pakistan (SBP) hit the highest level since July 7, 2022, according to data issued by the central bank on Thursday. According to the latest data released by the central bank, on July 5, the foreign currency reserves held by the SBP were recorded at $9.405 billion, up $16 million compared to $9.390 billion on June 28. Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $14.645 billion. The net reserves held by banks stood at $5.240 billion, registering an increase of $56 million during the week.