Pakistan's total liquid foreign exchange reserves rose to USD 23.72 billion as of September 4, supported by the receipt of government commercial loan proceeds, the State Bank of Pakistan said Thursday.
The country's total liquid foreign reserves stood at USD 23.716 billion, according to the latest data released by the central bank.
SBP reserves increase
Foreign exchange reserves held by the State Bank of Pakistan increased by USD 1.21 billion during the week ended September 4 to USD 18.328 billion.
The SBP said the increase was due to the receipt of proceeds from a commercial loan obtained by the Government of Pakistan.
Net foreign reserves held by commercial banks stood at USD 5.388 billion during the week, taking the country's total liquid reserves to USD 23.716 billion.
Reserves expected to rise further
Pakistan's foreign exchange reserves are expected to increase further in the coming weeks following the government's sale of USD 3 billion worth of Eurobonds.
The additional inflows from the bond issuance are expected to strengthen the SBP's reserve position and provide a further buffer for the country's external financing needs.
The rise in reserves comes as Pakistan continues to build its foreign exchange buffers and improve its external liquidity position
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