Forex reserves increase to $22.2bln

KARACHI: Pakistan’s foreign exchange reserves rose to $22.274 billion during the week ended March 10 from $21.822 billion a week ago, following a coalition support fund (CSF) receipt from the United States, the central bank reported on Thursday.

The country received $200 million under CSF during the week under review. The reserves, held by the State Bank of Pakistan (SBP), rose $99 million to $17.238 billion. The SBP’s reserves stood at $16.851 billion during the previous week.

At the same time, the central bank made payments of $97 million on account of external debt servicing and other official payments. The banks’ reserves amounted to $5.035 billion compared with $4.971 billion in the preceding week.