SBP reserves increase by $258mn to $4.60bn
MG News | January 19, 2023 at 07:55 PM GMT+05:00
January 19, 2023 (MLN): Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $258 million to $4.60 billion during the week ended on January 13, 2023, according to the data released by the central bank on Thursday.
Reserves held by the commercial bank showed a slight decline of $2.2mn to clock in at $5.84bn.
Meanwhile, the total reserves held by the county rose to $10.44bn.
To note, after a decline of $3.6bn during the last two months, the SBP reserves moved up by $258mn.
It is important to note that the current level of foreign currency reserves is barely enough to cover 0.89 months of import bills.
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