Pakistan’s foreign exchange reserves surged by $1.93 billion in the past week, reaching their highest level in more than two years, according to figures released by the State Bank of Pakistan (SBP) on Thursday.

As of July 4, the country’s total liquid foreign exchange reserves—including those held by commercial banks—stood at $20.02 billion. This marks a significant increase from the previous week and represents the highest reserves level since March 18, 2022.

The SBP’s own reserves rose sharply to $14.502 billion, up $1.77 billion from $12.728 billion recorded on June 27. Meanwhile, net reserves held by commercial banks also saw an uptick, rising by $162 million to reach $5.527 billion.