State Bank of Pakistan’s (SBP) foreign exchange reserves increased by 16.6% on a weekly basis, data released by the central bank showed Thursday.
On December 3, the foreign currency reserves held by the central bank were recorded at $18,658.2 million, up by $2,648 million compared with $16,010.3 million on November 26.
“After accounting for external debt and other official payments, SBP reserves increased by $2.648 billion,” it said, adding that the increase in reserves came primarily on the back of a $3 billion deposit by the Saudi Fund for Development.
Meanwhile, overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $25,150.7 million. Net reserves held by banks amounted to $6,492.5 million.
Last week, Pakistan received a much-awaited $3 billion deposit from Saudi Fund for Development.