SBP-held forex reserves rise nearly 2 per cent to $11.02 billion

KARACHI: Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) saw a notable rise, growing by $214.7 million (1.99 per cent) to reach $11.02 billion in the week ending on October 11, 2024, according to data released on Thursday.

At the same time, the country’s total foreign reserves, which include commercial bank reserves, rose by $64.3 million (0.40 per cent) to $16.11 billion.

However, reserves held by commercial banks experienced a decline, dropping by $150.4 million (2.87 per cent) to $5.09 billion.

Since the start of the current fiscal year, SBP’s reserves have increased by $1.63 billion (17.39 per cent). Additionally, over the course of the calendar year, they have risen by $2.8 billion (34.08 per cent).

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