KARACHI: During the week ending October 18, the State Bank of Pakistan’s (SBP) foreign exchange reserves rose while commercial banks’ holdings decreased.
According to the central bank’s information, SBP reserves increased by $18 million to $11.040 billion. The stability of the exchange rate is being guaranteed by the rising SBP reserves. Commercial banks’ foreign exchange holdings, meanwhile, dropped $112 million to $4.976 billion, indicating slower inflows that went against the currency market’s forecasts. The nation’s total reserves decreased by $14 million to $16.017 billion in the reviewed week.
