KARACHI: In the week ending October 4, the State Bank of Pakistan’s (SBP) foreign exchange reserves rose by $106 million to $10.808 billion, reaching a three-year high, the central bank stated in a news release on Thursday.
By FY25’s end, the government wants to increase the SBP’s foreign exchange reserves to $13 billion. After receiving the first tranche of more than $1 billion from the IMF last month under the 37-month $7 billion new Extended Fund Facility, the SBP’s reserves now stand in double digits. The total amount of foreign reserves held by the nation was $16.047 billion, of which $5.239 billion was held by commercial banks.
