An undated image of a person holding a $100 stack. — AFP/File

The State Bank of Pakistan (SBP)-held foreign exchange reserves maintained their uptrend for the second consecutive session, managing to stay above the $4 billion mark.

The reserves slightly rose above $18 million, however, the amount is still barely enough to cover one month of imports.

The central bank, in its weekly bulletin, said that its foreign exchange reserves have increased by $18 million to $4,319.1 million as of the week ended March 10, which will provide an import cover of around a month.

The net forex reserves held by commercial banks stand at $5,527.7 million, $1,208.6 billion more than the SBP, bringing the total liquid foreign reserves of the country to $9,846.8 million, the statement mentioned.

The central bank did not mention any specific reason behind an increase in SBP-held reserves.

More to follow…

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