Karachi July 7 2023: State Bank of Pakistan (SBP) foreign exchange reserves for the week ending June 30th, 2023, were increased by USD 393 million, the high of 10 weeks, as per data released by the Central Bank.
The Federal Minister for Finance Muhammad Ishaq Dar expressed gratitude for China’s substantial assistance, which played a vital role in boosting Pakistan’s overall reserves to USD 10 billion. “Our target is to further increase reserves to USD 14-15 billion by end of the government’s term”, he added.
At present, SBP reserves stand at the level of USD 4,462 million as of 30th June 2023, after an increase of USD 393 million compared to USD 4,069 million at the end of the week ending 30th June 2023.
During the same period, foreign exchange reserves held by commercial banks increased by USD 12 miilion to USD 5,282 million as of 30th June 2023.
Overall reserves held by the country witnessed an increase of USD 405 million to USD 9,745 million during the week ending 30th June 2023.
