KARACHI:
The State Bank of Pakistan’s (SBP) foreign currency reserves increased $21 million and reached $11.22 billion in the week ended February 21, 2025, according to data released by the central bank on Thursday.
A week ago, the foreign currency reserves held by the SBP had been at $11.20 billion, with an increase of $35 million. The SBP cited no reason for the latest rise in its reserves. Meanwhile, the total liquid foreign exchange reserves held by the country, including those held by commercial banks, stood at $15.92 billion. Of these, commercial banks had reserves of $4.70 billion.
According to reports, the State Bank purchased a record over $9 billion from the local market in the previous calendar year to stabilise Pakistan’s foreign exchange reserves.
In the currency market, the Pakistani rupee depreciated 11 paisa against the US dollar in inter-bank trading and closed at Rs279.72, adds APP.
