Pakistan’s Overall Foreign Reserves Hit Highest Level Since April 2022

The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $167 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 June 06, total liquid forex reserves held by the country, including net reserves held by banks other than the SBP, stood at $16.875 billion, up 277 million over the previous week. The country’s overall reserves are currently at their highest level since 16 April, 2022 when the reserves stood at $17.04 billion. As of June 06, the foreign currency reserves held by the SBP were recorded at $11.676 billion, up $167 million compared to $11.509 billion on May 30. The net reserves held by banks were recorded at $5.199 billion, registering an increase of $111 million during the week.