Observer Report
Karachi
The foreign exchange reserves held by the central bank rose 4.57% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.
On November 6, the foreign currency reserves held by the SBP were recorded at $12,740.5 million, up $558 million compared with $12,182.6 million in the previous week. According to the central bank, the increase in reserves was mainly attributed to the receipt of $500 million as government loan proceeds.
Overall, liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $19,906.9 million. Net reserves held by banks amounted to $7,166.4 million.
