Forex reserves surpass $16bn mark

KARACHI: The country’s total liquid foreign exchange reserves surpassed the $16 billion mark at the end of last week. According to the State Bank of Pakistan (SBP), total liquid foreign reserves held by the country increased by $109 million, reaching $16.076 billion as of November 22, 2024, compared to $15.967 billion a week earlier, on November 15, 2024.

During the reviewed period, SBP’s reserves grew by $131 million, climbing to $11.419 billion from $11.288 billion the previous week. However, net foreign reserves held by commercial banks decreased by $22 million, settling at $4.657 billion by the end of last week.

Copyright Business Recorder, 2024