The State Bank of Pakistan (SBP) reported a $21 million increase in its foreign exchange reserves on a weekly basis, according to data released by the central bank on Thursday.

As of February 21, the SBP’s foreign currency reserves stood at $11.222 billion, up from $11.201 billion recorded on February 14. This marks the second consecutive week of recovery in reserves after a decline earlier this month.

The central bank reserves had previously fallen by approximately $250 million in early February due to external debt repayments. However, the recent uptick signals a slight improvement in the country’s forex position.

The total liquid foreign exchange reserves held by the country, including net reserves held by banks other than the SBP, were recorded at $15.925 billion, reflecting a decrease of $22 million compared to the previous week.

Meanwhile, net reserves held by commercial banks dropped by $44 million during the week, standing at $4.703 billion.