Net reserves held by banks amounted to $6.371 billion following a drop of $77 million.

KARACHI (Web Desk) – The Forex Reserves of Pakistan has surged by 3 per cent on Thursday and soared to USD 18.644 billion by $281 million, according to date released by the State Bank of Pakistan (SBP).

SBP’s reserves has swelled by $359 million and recorded at $12.274 billion. Primarily, liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $18.644 billion. Net reserves held by banks amounted to $6.371 billion following a drop of $77 million.

The break-up of the foreign reserves position is as under:-

i) Foreign reserves held by the State Bank of Pakistan: US$12.274 billion

ii) Net foreign reserves held by commercial banks: US$6.371 billion

iii) Total liquid foreign reserves: US$18.644 billion