Week-on-week: Foreign currency reserves rise $56 million

SBP’s liquid foreign exchange reserves rose by $56 million to $11,123 million compared to $11,067 million in the previous week.

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $16,194.2 million while net foreign reserves held by banks amounted to $5,070.9 million.

The increase comes after the International Monetary Fund’s approval of the release of the seventh loan tranche of around $500 million on March 27. The approval was already anticipated as the government had met all the conditions of the IMF.