The State Bank of Pakistan (SBP) saw an increase in its foreign exchange reserves, rising by $18.5 million or 0.23 per cent week over week (WoW), reaching $8.04 billion by the week ending March 29, 2024, according to the latest data released by the central bank on Thursday.
However, the country’s overall reserves took a dip, decreasing by $48.7 million, or 0.36 per cent of WoW, and settling at $13.38 billion.
This decline is attributed to a drop in reserves held by commercial banks, which fell by $67.2 million, or 1.24 per cent of WoW, reaching $5.34 billion.
It’s important to note that in the current fiscal year, total liquid foreign reserves have increased by $4.22 billion, or 46.06 per cent.
Additionally, the ongoing calendar year has seen an increase of $0.71 billion, or 5.57 per cent.
