Karachi: The foreign exchange reserves maintained by the State Bank of Pakistan (SBP) rose by USD 431 million during the week ended on Nov 29 – a news source reported. The bank’s reserves have risen to USD 9.112 billion – corresponding to an eight-month high.
When analysed for the same period, commercial bank reserves stood at USD 6.88 billion.
Additionally, the central bank also reportedly paid USD 1 billion against a Sukuk bond maturation term on December 2. This amount, however, has not been factored into the calculation of the current reserves.
According to a statement issued by the State Bank on Thursday, the reserves have risen by USD 1.8 billion during the current fiscal year. Further, the foreign exchange swaps and the forward liabilities had also been reduced by USD 1.95 between June and October; having been reflected in the build-up of the foreign exchange reserves.
