Reserves increase by $168m

KARACHI: The State Bank of Pakistan (SBP) on Monday reported that Pakistan’s overall foreign exchange reserves soared by $168 million during the week which ended on May 7, 2021. 

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According to reports, the increase in reserves is due to the higher inflow of money in the SBP. Meanwhile, the Forex holdings of commercial banks have declined by  $9 million to $7.135 million during the week. 

As per SBP, the reserves surged by $177 million to $15.774 billion due to Pakistan’s official inflows.

 

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