SBP Reserves Post Slight Increase After $250 Million Decline Last Week

The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $35 million on a weekly basis according to data issued by the central bank on Thursday.     According to the latest data released by the SBP, on February 14, the foreign currency reserves held by the SBP were recorded at $11.202 billion, up $35 million compared to $11.167 billion on February 7.    The central bank reserves crossed the $12 billion mark towards the end of November 2024; however, they have declined in recent weeks due to external debt repayments, falling by around $250 in the previous week.  Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $15.948 billion, up 85 million over the previous week.      The net reserves held by banks were recorded at $4.746 billion, registering an increase of $50 million during the week.