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SBP’s reserves rise $71.9m to $12.7b

SBP’s reserves rise $71.9m to $12.7b

KARACHI: The State Bank of Pakistan’s (SBP) net reserves increased by $71.9 million to $12.7 billion during the week ending 28th of August.

Detailing the position of the reserves, the SBP, in a statement said that the overall foreign reserves of the country stood at $19.84 billion.

Giving its breakup, it said that the SBP currently held the foreign reserves of up to $12.7 billion and over $7.13 billion reserves held by the commercial banks.

Earlier on August 6, After a decrease in the foreign reserves of the country in the past week, the State Bank of Pakistan (SBP) had announced an increase of United States Dollar (USD) 567 million in the liquid foreign reserves of the country.

Detailing the position of the reserves at the end of the week on 30 July, the SBP had said that the overall foreign reserves stood at US$ 19,562.9 million in the country.