KARACHI: With the inflows of commercial loans, the foreign exchange reserves of the State Bank of Pakistan (SBP) crossed the $4 billion mark during the week ending on June 23.

The central bank reported that during the week its reserves increased by $533 million to $4.069bn mainly due to the realisation of $300m commercial loans to the Government of Pakistan.

The country’s total reserves increased to $9.340bn including $5.27bn of the commercial banks. The SBP hopes to receive $3bn from the International Monetary Fund under the Stand-By Arrangement after its executive board approves it this month.

Published in Dawn, July 4th, 2023