SBP reserves perk up by $593 million

SBP reserves perk up by $593 million

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KARACHI: Foreign exchange reserves held by the State Bank of Pakistan up surged by $593 million during the week ended April 27, said a press release on Thursday.

The SBP reserves, which had been deteriorating since the beginning of this financial year, finally increased to $11.51 billion due to official cash inflows. In the post-budget press conference, Finance Minister Miftah Ismail said the country has received a sum of $1 billion inflow.

Total reserves of the country augmented to $17.71 billion while the holdings of the commercial banks account for $6.202 billion.

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