ISLAMABAD, May 22 (Xinhua) -- Foreign exchange reserves of the State Bank of Pakistan (SBP) increased over 1 billion U.S. dollars, the central bank said in a statement on Thursday.
During the week ending May 16, the SBP's total foreign exchange reserves stood at about 11.45 billion dollars, the statement said.
The central bank said the rise was due to the receipt of the second tranche of 760 million Special Drawing Rights (SDR), equivalent to 1.02 billion dollars, from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) on May 13, the SBP added.
Net foreign reserves held by commercial banks came in at around 5.20 billion dollars, the SBP added.
Total liquid foreign reserves held by the South Asian country were recorded at approximately 16.65 billion dollars, the bank said. ■