SBP Reserves Up by $36 Million in One Week

SBP Reserves Up by $36 Million in One Week in 2022

The State Bank of Pakistan’s (SBP) foreign reserves saw inflows of $36 million in the week ending April 16, 2022, representing a 0.3 percent increase week on week.

According to the SBP weekly report released on Thursday, the country’s total liquid foreign exchange reserves increased by $16.9 million (+0.1 percent) on April 16, 2022, to $17.045 billion, up from $17.028 billion the previous week. The SBP reserves increased by $36.1 million to $10.88 billion (+0.3 percent) from $10.85 billion the last week.

Meanwhile, commercial banks’ net foreign reserves stood at $6.1 billion, representing a weekly decrease of $19.3 million (-0.3 percent).

In contrast, the Pakistani Rupee (PKR) fell further against the US Dollar (USD) in the interbank market on Thursday. It lost Rs. 1.04 against the USD, Rs. 1.15 against the AUD, Rs. 2.04 against the CAD, Rs. 2.42 against the GBP, and Rs. 2.96 against the EUR (EUR).

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