The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $131 million on a weekly basis, reaching $11.419 billion as of November 22, 2024, according to data released by the central bank on Thursday. This marks the highest level of reserves held by the SBP since March 2022, a 31-month high.
The reserves rose from $11.288 billion recorded on November 15, reflecting a steady improvement in the country’s financial position.
The overall liquid foreign currency reserves, which include net reserves held by banks other than the SBP, also saw an increase, reaching $16.076 billion, up $109 million from the previous week. However, net reserves held by commercial banks declined by $22 million during the same period, standing at $4.658 billion.
