The State Bank of Pakistan (SBP) witnessed a surge in the foreign exchange reserves with a reported increase of $31 million.
The State Bank of Pakistan in a statement said that “the total foreign reserves of Pakistan surged to US$16.632 billion, while the SBP reserves crossed $12.081 billion as of December 13, 2024.”
According to the central bank, the total liquid foreign exchange reserves held by commercial banks climbed to US $4.551 billion.
The reason for the increase in foreign reserves has not been revealed.
Last week, the total foreign reserves of the country stood at US$16.60 billion including the SBP reserves at $12.5 billion and commercial banks reserves at US$4.55 billion.
Earlier today, the State Bank of Pakistan (SBP) Governor Jameel Ahmed said that the country has paid back a US$2 billion loan during the past two years.
In a television talk show, the SBP governor pointed out that the foreign exchange reserves have also increased. He shared that the current account will be US$700 million surplus in the month of November.
