Karachi: The State Bank of Pakistan (SBP)’s reserves have increased by USD 1.3 billion, coming to USD 10.349 billion, according to a news report. The total liquid reserves in the country stand at USD 17.08 billion; where commercial banks have holdings of USD 6.73 billion.
A week ago, the reserves stood at USD 9.010 billion, which kept on decreasing because of an increase in current account deficit. This deficit was later met through central bank reserves. Debt servicing is a huge problem for the country’s economy and earlier this has seriously undermined the exchange rate regime whereby the local currency lost about 20% of its value against the dollar.
