Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $1.18 billion during the week ended on April 24.

According to the central bank’s weekly report, its reserves increased by $1.18 billion to $12.7 billion during the last week.

SBP said that commercial banks’ holdings stood at $6.39 billion while the country’s net reserves were recorded at 18.46 billion dollars.

Earlier on April 23, foreign exchange reserves held by the State Bank of Pakistan (SBP) had decreased by $85 million to $10.8bn during the week ended on April 17.