Dollar reserves inch up to $8.7b


The country’s dollar reserves stood at $8.737 billion during the week that ended on Feb 28.

According to the State Bank, during the week under review the SBP’s liquid foreign exchange reserves increased by $50 million to $3.921 billion compared to $3.871 billion the bank held last week.

The State Bank attributed increase in its reserves to receipts of $74 million from multi-lateral, bilateral and other official sources. The banks other than SBP held $4.816 billion during the week. The central bank said during the week ending Feb 21, total official payments made amounted to $24 million.

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