SBP Reserves Post Small Increase in One Week

The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $21 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 21, the foreign currency reserves held by the SBP were recorded at $11.222 billion, up $21 million compared to $11.201 billion on February 14. The central bank reserves have declined in recent weeks due to external debt repayments, falling by around $250 in early February. The recovery as of February 21 is the second consecutive one this month. Total liquid forex reserves held by the country including net reserves held by banks other than the SBP, stood at $15.925 billion, down 22 million over the previous week. The net reserves held by banks were recorded at $4.703 billion, registering a decrease of $44 million during the week.