Pakistan’s foreign exchange reserves rise to $26.79bn

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Commercial banks’ reserves rise by $12m to $5.34bn

The Pakistan’s foreign exchange reserves rose by $26.5 million to $26.79 billion in the week ended October 2,

The State Bank of Pakistan’s (SBP) reserves increased by $14.5 million to $21.45 billion.

The reserves held by commercial banks also rose by $12 million to $5.34 billion, the SBP maintained.

Separately, earlier this month, the SBP had announced its latest monetary policy decision, keeping the benchmark interest rate unchanged at 11.5%.

The SBP decided to maintain the benchmark interest rate after a careful review. The Monetary Policy Committee reached the decision following a detailed assessment of current economic indicators.

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