Karachi: The State Bank of Pakistan (SBP)’s foreign exchange reserves have increased by USD 19 million during the week that ended on 3rd August, stated a news report. However, the commercial bank holdings decreased by USD 95 million to USD 16.635 billion.
The commercial bank reserves increased for most of Fiscal Year 2017-2018 because of increased local deposits but the general public turned towards investing in dollars because of uncertainties in the exchange rate. For the same week, the country’s overall liquid foreign exchange reserves declined from USD 74.7 million to USD 17.005 billion, from the previous week’s USD 17.079 billion.
