The central bank released data showing that commercial banks’ net foreign reserves dropped by US$630 million to $5.43 billion. At $14.58 billion, the overall national reserves had dropped by US$41 million.
The country’s total liquid foreign reserves were valued at $14,58 billion US dollars.
The SBP announcement also stated, “SBP reserves increased by US$ 22 million to US$ 9,157.0 million during the week ended on May 17, 2024.”
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The SBP said earlier on May 16 that Pakistan’s foreign exchange reserves had climbed by $150 million.
With the increase in Pakistan’s foreign exchange reserves, the SBP disclosed that the country’s reserves exceeded $9.13 billion.
Simultaneously, commercial banks’ reserves also increased by $15.20 billion to settle at $5.49 billion, as confirmed by the SBP.