Karachi February 23 2023: SBP foreign exchange reserves for the week ending Feb 17, 2023, were up by USD 65.6 million to USD 3,258 million as per data released by the Central Bank.
“Formalities completed and Board of China Development Bank has approved the facility of US $ 700 million for Pakistan. This amount is expected to be received this week by State Bank of Pakistan which will shore up its forex reserves”
says Pakistan Finance Minister Ishaq Dar
At present, SBP reserves stand at the level of USD 3,258 million as of 17th February 2023 compared to USD 3,192 million at the end of the week ending 10th February 2023.
During the same period, foreign exchange reserves held by commercial banks decreased by USD 41 million to the level of USD 5,468 million as of 17th February 2023.
Overall reserves held by the country witnessed an increase of USD 24 million to USD 8,726 million during the week ending 17th February 2023.
