KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 4.4% on a weekly basis on December 4, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves increased $654 million to $15,441 million compared to $14,787 million in the previous week. During the week, the SBP received $918 million from multilateral, bilateral and other official sources, which include $500 million received from the World Bank and $400 million from the Asian Development Bank. The SBP also made payments of $270 million during the week on account of external debt servicing.

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,450.9 million while net reserves held by banks amounted to $5,009.5 million.

SBP-held reserves increased 13.4%, or $1,794 million, in October after the central bank received $505 million from the International Monetary Fund.

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