Karachi March 24 2023: SBP foreign exchange reserves for the week ending March 17th, 2023, were up by USD 280 million for the sixth consecutive week, as per data released by the Central Bank.
"We are hopeful that country's total foreign exchange reserves will be above USD 16 billion and central bank reserves will be more than USD 10 billion by June this year" says country finance minister Dar.
At present, SBP reserves stand at the level of USD 4,598 million as of 17th March 2023 compared to USD 4,319 million at the end of the week ending 10th March 2023.
During the same period, foreign exchange reserves held by commercial banks increased by USD 12.8 million to the level of USD 5,540 million as of 17th March 2023.
Overall reserves held by the country witnessed an increase of USD 292 million to USD 10,139 million during the week ending 17th March 2023.