Islamabad, 15 August 2024 (TDI): Pakistan’s Foreign Exchange Reserves surged by $119 million on a weekly basis, now standing at $9.27 billion as of August 9, data released on Thursday showed.
According to a statement, with an increase of $119 million on a week-on-week basis, the total liquid foreign exchange reserves held by the State Bank of Pakistan (SBP) have clocked in at $14.64 billion.
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The data showed that the country’s commercial banks possess $5.37 billion worth of foreign reserves.
“During the week ended on 9-Aug-2024, SBP reserves increased by US$ 119 million to US$ 9,272.6 million,” the SBP said, without specifying the reason for the increase.
This is the second consecutive surge in the country’s foreign reserves. Last week, the SBP-held reserves had surged by $51 million.
