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SBP-held Foreign Exchange Reserves surged by 10.2% WoW to stand at $17.34bn

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The foreign exchange reserves held by the central bank surged 10.23% on a weekly basis.

On February 4, the foreign currency reserves held by the SBP were recorded at $17,336.8 million, up $1,609 million compared with $15,727.6 million on January 28.

According to the central bank, the increase came due to the receipt of $1,053 million from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) programme and proceeds against Pakistan International Sukuk Bond issuance of $1,000 million.

“After accounting for external debt and other payments, SBP reserves increased by $1,609 million to $17,336.8 million,” it said.

Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $23,720.9 million. Net reserves held by banks amounted to $6,384.1 million.

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