LAHORE MIRROR — Foreign exchange reserves held by the State Bank of Pakistan (SBP) surged $393 million, clocking in at nearly $4.46 billion as of June 30, data released on Thursday showed.
The overall number stands at a critical level at around a month of import cover.
Total liquid foreign reserves held by the country stood at $9.75 billion. Net foreign reserves held by commercial banks clocked in at $5.28 billion.
“During the week ended on June 30, 2023, SBP reserves increased $393 million to $4,462.7 million mainly due to receipt of official government of Pakistan inflows,” cited SBP statement.
The SBP held reserves surged $533 million and clocked in at nearly $4.07 billion as of June 23 mainly due to realisation of $300 million proceeds of government of Pakistan’s commercial loan.
