Pakistan’s Foreign Reserves Cross $11.5 Billion After Another Weekly Increase

The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $70 million on a weekly basis, according to data issued by the central bank on Thursday. According to the latest data released by the SBP as of May 23, the foreign currency reserves held by the SBP were recorded at $11.516 billion, up $70 million compared to $11.447 billion on May 16. Total liquid forex reserves held by the country, including net reserves held by banks other than the SBP, stood at $16.637 billion, down 12 million over the previous week. The net reserves held by banks were recorded at $5.121 billion, registering a fall of $82 million during the week.