The State Bank of Pakistan (SBP) reported a $43 million increase in its foreign exchange reserves on a weekly basis, according to data released by the central bank on Thursday. As of September 13, the SBP’s foreign currency reserves reached $9.509 billion, up from $9.467 billion on September 6. This marks the first time since July 7, 2022, that the central bank’s reserves have surpassed the $9.5 billion threshold.

In addition to the SBP’s reserves, the country’s overall liquid foreign currency reserves, which include net reserves held by banks other than the SBP, rose by $30 million over the previous week, totaling $14.826 billion. However, the net reserves held by banks decreased by $13 million, bringing them to $5.317 billion.

This development comes as Pakistan’s $7 billion loan is officially on the agenda for the International Monetary Fund (IMF) Board’s meeting scheduled for September 25, highlighting the ongoing efforts to stabilize the country’s financial position