The State Bank of Pakistan’s (SBP) foreign exchange reserves edged up by a narrow $22 million on a weekly basis, according to data released on Thursday.
As of May 17th, the central bank’s reserves stood at $9.157 billion, a slight increase from the previous week’s $9.136 billion.
Despite this marginal rise, Pakistan’s overall liquid foreign currency reserves, which include net reserves held by commercial banks, dipped slightly. Total reserves fell to $14.585 billion, reflecting a $41 million decrease compared to the prior week.
Net reserves held by commercial banks also declined, dropping by $63 million to settle at $5.428 billion during the same period.
These figures highlight ongoing fluctuations in Pakistan’s foreign exchange reserves, reflecting the dynamic nature of the country’s economic landscape.