The decline in the country’s foreign exchange reserves has stopped, with total reserves increasing by more than 285 million in one week.
According to the SBP, the central bank and commercial banks have seen a rise in the dollar over the past week, with external government receipts recording an increase of 26 268.2 million in reserves during the week, boosting their volume.
At 12.66 billion, while commercial banks also saw an increase of 79 17.9 million to 7.235 billion, due to which the total foreign exchange reserves for the week were 7.23 billion. By the end of the year, it had increased by 28 286.1 million to 19.30 billion.
Earlier in the week, the central bank recorded a total shortfall of 1.22 billion in foreign exchange reserves due to continuous declines.
Extracted from City42 News
