Pakistan's foreign exchange reserves jump $18mn

Karachi: Foreign exchange reserves held by the State Bank of Pakistan (SBP) surged by $18 million on a weekly basis, clocking in at $11.17 billion as of November 1.

The central bank did not specify a reason for the increase in reserves.

The data released by the central bank on Thursday showed that total liquid foreign reserves held by the country stood at $15.93bn, while net foreign reserves held by commercial banks stood at $4.76bn.

“During the week ended on Nov 1, 2024, SBP reserves increased by $18mn to $11,174.6mn,” it said.

The central bank's foreign exchange reserves increased by $116mn last week.