Karachi: The foreign exchange reserves held by the State Bank of Pakistan (SBP) went up to USD 8.46 billion, as recorded on September 6, according to a news report. This means that the reserves increased by 2.2%, as compared to the previous week.
This was an increase of USD 181.8 million, as the reserves went up from USD 8.2805 billion to USD 8.4623 billion in one week. The SBP attributed this jump to official inflows from the government. The previously spiralling situation of the reserves had been alleviated due to financial assistance from the United Arab Emirates (UAE), Saudi Arabia, and other countries.
The overall liquid foreign exchange reserves held by Pakistan, including those held by banks other than the SBP, amounted to USD 15.0618 billion, as per the latest counts. Out of these reserves, USD 7.2948 billion is held by these banks. Continuing official inflows and financial assistance from allies is expected to keep the reserves steady, and prevent them from decreasing.
