SBP Reserves Increased by $88 Million in One Week

The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by 0.55 percent, or $88 million, for the week ended May 21, 2021, data released by the SBP showed. ALSO READ SBP Eases Process of Raising Financing from Abroad for Start-Ups As of May 21, the foreign currency reserves held by the SBP were recorded at $15,862 million, up from $15,774.5 million recorded on May 7. The central bank attributed the increase to the official inflows from the government of Pakistan. ALSO READ Pakistan Raises $500 Million in Its First Ever Green Bond Net reserves held by banks other than SBP amounted to $7,153.9 million. Overall liquid foreign currency reserves held by the SBP and other banks, including net reserves, stood at $23,015.9 million.