SBP reserves increase by $394mn in a week

MG News | April 20, 2023 at 08:24 PM GMT+05:00

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April 20, 2023 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $394.2 million or 9.76% WoW to $4.43 billion during the week ended on April 14, 2023, according to the data released by the central bank on Thursday.

The surge in SBP reserves this week is primarily attributed to the receipt of $300mn from the commercial loan, according to the statement of the central bank.

Similarly, the country's total reserves jumped by $400mn or 4.18% WoW to $9.64bn.

The reserves held by commercial banks moved up by $6.2mn or 0.11% WoW to $5.53bn.

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