Forex reserves rise by $30m

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $30 million to $9.466 billion during the week ended on Sept 6, announced the central bank on Thursday without disclosing the source of this inflow.
The SBP governor said on Thursday that the reserves are projected to reach $12bn by March and $13bn by June next year. The SBP has been buying dollars regularly from the interbank market to improve its reserves and make payments for debt servicing.
The country’s total foreign exchange reserves reached $14.79bn, including $5.33bn curently held by the commercial banks.
Published in Dawn, September 13th, 2024