Foreign exchange reserves held by the central bank surged by $14 million on a weekly basis, clocking in at $7.5 billion as of October 27, the State Bank of Pakistan (SBP) said on Thursday.

According to 24NewsHD TV channel, total liquid foreign reserves stood at $12.5 billion and net foreign reserves held by the commercial banks stood at $5 billion.

“During the week ended on October 27, 2023, SBP’s reserves increased by $14 million to $7,507.8 million,” it said.

Last week, Pakistan’s central bank reserves had decreased by $220 million.

Reportedly, the SBP reserves have been under pressure due to debt repayments, a rise in import payments and a lack of fresh inflows.