The State Bank of Pakistan (SBP) reported a significant increase in foreign exchange reserves, climbing by $1.1 billion in the latest weekly data released on Thursday. This rise was attributed to a $1.1 billion loan installment received from the International Monetary Fund (IMF) on April 30.
As per the central bank’s update, foreign currency reserves held by the SBP reached $9.12 billion as of May 3, marking a notable increase from $8.006 billion recorded on April 26.
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The total liquid foreign currency reserves of the country, including reserves held by banks other than the SBP, amounted to $14.458 billion. Bank-held net reserves stood at $5.338 billion, with a modest weekly increase of $28 million.
The last instance of reserves surpassing the $9 billion threshold was on July 15, 2022, approximately 21 months ago.
