Pakistan's Foreign Exchange Reserves Reach US$14.41 Billion

Pakistan's foreign exchange reserves, saw a weekly increase of $31 million, according to the State Bank of Pakistan (SBP). This boost brought the SBP-held reserves to $9.135 billion as of June 14, 2024.

"During the week ending on June 14, 2024, SBP reserves rose by US$ 31 million to US$ 9,134.7 million," the statement detailed.

The total liquid foreign reserves of the country amounted to $14.415 billion, with commercial banks holding net foreign reserves of US$ 5.28 billion.

Earlier, on June 13, it was reported that Pakistan's foreign exchange reserves increased by US$168 million in the first week of June, reaching US$14.38 billion.

A central bank statement noted that during the week ending on June 7, reserves held by commercial banks rose by US$174 million to $5.28 billion, while SBP-held reserves saw a decrease of US$6.2 million, standing at US$9.10 billion. The central bank did not specify the reasons for this decrease.

"During the week ending on June 7, 2024, SBP reserves decreased by US$ 6 million to US$ 9,103.3 million," stated the SBP.