KARACHI: The State Bank of Pakistan (SBP) said on Thursday that its foreign exchange reserves concluded the week of September 6th at $9.466 billion, a rise of $30 million. The source of this inflow of funds was not disclosed.
According to the SBP governor, reserves are expected to grow to $13 billion by June of next year and $12 billion by March of following year. The State Bank of Pakistan has been purchasing dollars on a regular basis from the interbank market in order to bolster its reserves and pay off debt.
The entire foreign exchange reserves of the nation came to $14.79 billion, of which the commercial banks currently hold $5.33 billion.
