KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $106 million to $10.808 billion during the week ending Oct 4, hitting a three-year high, said a press release issued by the central bank on Thursday.
The government aims to boost the SBP forex holdings to $13bn by the end of FY25. The reserves of the SBP reached double digits after receiving the first tranche of over $1bn last month from the IMF under the 37-month $7bn new Extended Fund Facility. The country’s overall foreign reserves stood at $16.047 billion, including $5.239bn held by commercial banks.
Published in Dawn, October 11th, 2024