ISLAMABAD: The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 18 million dollars, clocking in at 4.32 billion dollars as of 10 March, SBP data released on Thursday showed.
This is the 5th successive increase in SBP-held reserves on a weekly basis, but the overall number still stands at a critical level at nearly a month of import cover.
Commercial banks’ net foreign exchange reserves
Pakistan’s total liquid foreign reserve stood at 9.85 billion dollars. Commercial banks’ net foreign reserves clocked in at 5.53 billion dollars.
SBP said that during the week ended on 10 March, 2023, its reserves surged by $18 million to 4,319.1 million dollars.
Last week, foreign exchange reserves held by the central bank increased 487 million dollars on the back of another loan from China.
Finance Minister Ishaq Dar said Thursday that the Ministry of Finance has completed the process of documentation for the second disbursement of 500 million dollars from the Industrial and Commercial Bank of China.
