In its data released on Thursday, the central bank revealed that the foreign exchange reserves of the State Bank of Pakistan (SBP) grew by $13 million on a week-on-week basis. As of December 6, the SBP’s foreign currency reserves stood at $12.051 billion, compared with $12.038 billion on November 29. This is the highest amount of reserves since March 2022.
Notably, SBP reserves last week climbed more than $600 million due to $500 million received from the Asian Development Bank to Pakistan as a loan for the Climate Change and Disaster Resilience Enhancement Program (CDREP) Government of Pakistan.
Also read: G7 Supports Inclusive Government in Syria Post-Assad
Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $16.601 billion, reflecting a decrease of $19 million over the week. Net reserves held by banks were recorded at 4.55 billion and indicated a decline of 32 million during the same period.