Foreign exchange: SBP reserves increase by $593m

Monitoring Desk

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan increased by $593 million during the week ended April 27, noted an SBP press release on Thursday.

The SBP reserves, which had been declining since beginning of this financial year, finally rose to $11.51 billion due to official inflows. In the post-budget press conference, Finance Minister Miftah Ismail said the country has received a $1bn inflow.

Total reserves of the country grew to $17.71bn while the holdings of the commercial banks stood at $6.202bn.