KARACHI: Foreign exchange (forex) reserves of Pakistan inched up by $75 million to $13.796 billion by week ended November 11, 2022, State Bank of Pakistan (SBP) said on Thursday.
The foreign exchange reserves of the country were at $13.721 billion a week ago i.e. November 04, 2022.
READ MORE: Pakistan FX reserves slip sharply by $958 mn on external payments
The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $13.432 billion.
The official foreign exchange reserves of the State Bank nominally increased by $3 million to 7.96 billion by week ended November 11, 2022 as compared with $7.957 billion a week ago.
READ MORE: SBP’s weekly forex reserves dip by $157 million to $7.44 billion
The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP dropped by $12.185 billion.
READ MORE: Pakistan’s weekly forex reserves increase nominally
It is pertinent to mention that the SBP’s reserves witnessed sizeable increase a week ago after the Asian Development Bank (ADB) released the fund amounting $1.5 billion to Pakistan on October 26, 2022.
The foreign exchange reserves held by commercial banks recorded an increase of $72 million to $5.836 billion by week ended November 11, 2022 as compared with $5.764 billion a week ago.
READ MORE: Pakistan’s forex reserves continue to fall; deplete to $13.25 billion
