The foreign exchange reserves held by the central bank rose by 12.7% on a week-on-week basis to $4.3 billion, according to data released by the State Bank of Pakistan (SBP) on Thursday.
The SBP’s foreign currency reserves stood at $4,301 million on March 3, 2023, up by $487 million compared to $3,814.1 million on February 24. The central bank attributed the rise in foreign exchange reserves to the receipt of $500 million from the government of Pakistan’s commercial loan from China.
Overall, the liquid foreign currency reserves held by the country, including the net reserves held by banks other than the SBP, stood at $9,754 million. The net reserves held by banks amounted to $5,453 million.