SBP reports modest increase in forex reserves

KARACHI: Pakistan’s foreign exchange reserves saw a slight uptick this week, recovering marginally after a sharp fall the previous week.

According to figures released by the State Bank of Pakistan (SBP) on Thursday, the central bank’s reserves rose by $9 million, reaching $10.21 billion as of April 25.

The total liquid foreign reserves held by the country, including those maintained by commercial banks, stood at $15.25 billion. Of this, commercial banks held $5.04 billion in net reserves.

The SBP did not provide any explanation for the increase.

The modest rise comes after a significant drop of $367 million a week earlier, which had pushed the central bank’s reserves to their lowest level in seven months.

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