Reserves increased due to loan receipts of $0.5 billion
Pakistan’s foreign exchange reserves increased by $558 million to $12.74 billion during the week ended on November 6, according to State Bank.
The reserves were at a two-month high during the week. The last time State Bank held reserves higher than this was on September 11.
The increase in reserves is mainly attributed to the receipt of $500 million as government’s loan proceeds.
The total foreign reserves, reserves held by State Bank plus commercial banks, stood at $19.9 billion.