Summary The State Bank of Pakistan's foreign exchange reserves increased by $33 million last week to $17.258 billion, while the country's total reserves edged down slightly.
KARACHI (Dunya News) – The State Bank of Pakistan's (SBP) foreign exchange reserves increased by $33 million during the week ended July 17, according to data released by the central bank on Thursday.
The SBP said its foreign exchange reserves rose to $17.258 billion, reflecting a modest weekly increase.
However, Pakistan's total foreign exchange reserves slipped by $600,000 to $22.66 billion during the same period.
The decline was mainly due to a reduction in the foreign exchange holdings of commercial banks.
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According to the central bank, commercial banks' reserves fell by $38 million, bringing their total foreign exchange holdings down to $5.41 billion.
The latest figures indicate that while the central bank's reserves registered a slight improvement, the country's overall foreign exchange reserves remained largely stable over the week.
