SBP Reserves Increase by Almost Half a Billion Dollars

The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by almost half a billion dollars on a weekly basis according to data issued by the central bank on Thursday. According to the latest data released by the central bank, on June 28, the foreign currency reserves held by the SBP were recorded at $9.39 billion, up $494 million compared to $8.896 billion on June 21. According to brokerage house Arif Habib Limited (AHL), this is the highest level since July 7, 2022. Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $14.573 billion. The net reserves held by banks stood at $5.184 billion, registering a decrease of $128 million during the week.