SBP Reserves Increase Slightly to Stay Above $9.4 Billion

The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose slightly on a weekly basis to close in on the $9.5 billion mark, according to data issued by the central bank on Thursday. According to the latest data released by the central bank, on July 12, the foreign currency reserves held by the SBP were recorded at $9.424 billion, up $19 million compared to $9.405 billion on July 5. Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $14.704 billion. The net reserves held by banks stood at $5.280 billion, registering an increase of $40 million during the week.