Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $494 million on a weekly basis, clocking in at $9.39 billion as of June 28, data released on Thursday showed.

Total liquid foreign reserves held by the country stood at $14.57 billion. Net foreign reserves held by commercial banks stood at $5.18 billion.

The central bank cited official inflows from multilateral agencies as the reason for the boost in foreign currency reserves.

“During the week ended on June 28, 2024, SBP reserves increased by US$ 494 million to US$ 9,389.5 million due to official inflows from multilateral agencies,” it said.

Last week, Pakistan’s central bank reserves had decreased by $239 million on a weekly basis, clocking in at $8.896 billion as of June 21.The central bank said it was due to external debt repayments.