Pakistan's foreign exchange reserves up by $12m
Pakistan
The increase is against the earlier trend of frequent declines since the first week of July
KARACHI (Web Desk) - During the week ended on August 11, the liquid foreign exchange reserves of Pakistan being maintained by the State Bank of Pakistan (SBP) surged by $12 million to $ 8.05 billion.
The increase is against the earlier trend of frequent declines since the first week of July.
Also Read: SBP reserves decline by $32m
The reserves held by Pakistan stood at $13.379 billion as of August 11 last.
The commercial banks are holding the net foreign exchange reserves which stood at $5.323 billion.
On July 7, the SBP reserves were $4.524bn soaring to $8.727bn after inflows from the International Monetary Fund (IMF), Saudi Arabia and UAE as well.
On the contrary, the forex holdings of the SBP witnessed an outflow of $686m in less than a month in spite of tight control over imports.
