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SBP’s foreign exchange reserves climb to $12.78 billion

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News Stories Posted by ARY News Digital Team

KARACHI: The State Bank of Pakistan (SBP) on Thursday reported an increase of $32 million in its foreign exchange reserves during the week ending on March 6, reported ARY News.

According to the central bank, the net reserves held by the SPB climbed to $12.78 billion.

Whereas, commercial banks held $6.11 billion worth of exchange reserves until the 6th of this month.

The State Bank said the country’s net foreign reserves were calculated to be $18.90 billion.

Read More: Gold continues on downwards spiral in coronavirus affected market

Last week, the total liquid foreign reserves of the country were recorded to be US$18.86 billion.

Out of the total reserves, the state-owned bank held the foreign reserves of US$12.75 billion, witnessing an increase of US$166 million.

The central bank said that the commercial banks also held reserves of up to US$6.11 billion.

The State Bank of Pakistan (SBP) witnessed an increase of US$87 million in its foreign reserves during the week ending Feb 21.

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