State Bank-held reserves climb by $115 million in a week

KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves rose by $115.7 million or 1.05 per cent on a week-on-week basis and reached $11.16 billion by October 25, according to latest data from the central bank.

Total reserves with Pakistan saw an increase of $31.9 million or 0.20 per cent bringing the total to $16.05 billion.

However, reserves held by commercial banks dropped by $83.8 million or 1.68 per cent to $4.89 billion.

Since the start of the current fiscal year, SBP-held reserves have grown by $1.77 billion, showing a rise of 18.82 per cent.

SBP reserves have increased by 35.7 per cent to $2.94 billion for the calendar year so far.

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