Foreign exchange reserves cross $20bn mark: SBP

(Web Desk): The country’s total foreign exchange reserves have surpassed $20 billion, marking the highest level in Pakistan’s history, according to the State Bank of Pakistan (SBP).

The SBP released its weekly foreign reserves data, stating that as of July 4, the official reserves held by the central bank amounted to $14.502 billion.

During the past week, official reserves increased by $1.774 billion, while commercial banks' reserves rose by $163.2 million.

According to the data, by the end of the week ending July 4, commercial banks held $5.526 billion in reserves.

Overall, the country’s total foreign exchange reserves stood at $20.0287 billion at the close of last week, according to the State Bank.