Pakistan foreign reserves surge by $250 million

Pakistan foreign reserves surge by $250 million

The State Bank of Pakistan has recorded a surge of $252 million in its weekly reserves report released on Thursday. It attributed the surge to official inflows.

The data records State Bank of Pakistan reserves at $10,974.6 million with a weekly increase of $252m.

This is a $55 million increase in foreign liquidity held by Pakistani private banks, which stands at $6,320 million.

The reports from the previous week, ending 3rd April, recorded a decrease of $463m in the central bank to $10,722.5m. That decline was attributed to external debt repayments of $465m.

The current status, despite a notable surge, is still $1.6 billion less than the yearly high of $1.89m, which was just in the same period last month.