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The State Bank of Pakistan (SBP) reported a weekly increase of $1.1 billion in its foreign exchange reserves, as per the central bank’s data release on Thursday.
This significant surge in reserves stemmed from the $1.1 billion loan tranche provided by the International Monetary Fund (IMF) on April 30.
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According to the most recent figures disclosed by the central bank on May 3, the SBP’s foreign currency reserves totaled $9.12 billion, marking a rise of $1.114 billion compared to $8.006 billion on April 26.
The country’s overall liquid foreign currency reserves, inclusive of net reserves held by banks other than the SBP, amounted to $14.458 billion. Banks’ net reserves reached $5.338 billion, marking a weekly increase of $28 million.
The last instance of reserves surpassing the $9 billion threshold was on July 15, 2022, nearly 21 months prior.