KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves recorded a modest increase of $13 million during the week ending December 6, reaching $12.05 billion, according to data released on Thursday.
The nation’s total liquid foreign reserves now stand at $16.60 billion, comprising $4.55 billion held by commercial banks. However, the central bank did not explain the reasons for citing the small change.
“During the week ended on 06-Dec-2024, SBP reserves increased by $13 million to $12,050.8 million,” the statement noted.
This was after a hefty increase last week when reserves rose by the US dollar of 620 million, primarily bolstered by the US dollar of 500 million inflow from the Asian Development Bank (ADB).
While this latest increment is indeed lower and gradual, one would think that it is an improvement or a continuation of all that has been going on with the country’s foreign exchange position, as economic challenges continue.
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