State Bank of Pakistan (SBP)-held foreign exchange reserves have witnessed a meagre rise as the cash-strapped nation desperately tries to unlock the critical International Monetary Fund (IMF) loan tranche — which will pave way for more funding.
The central bank, in a statement without mentioning the reason, said that its foreign exchange reserves have increased by $66 million to $3,258.5 million as of the week ended February 17, which will provide an import cover of around three weeks.
The net foreign reserves held by commercial banks stand at $5,468.0 million, $2,209.5 million more than SBP, taking the total liquid foreign reserves to $8,726.5 million.
