Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $16 million on a weekly basis, clocking in at $9.4 billion as of July 5, data released on Thursday showed.

Total liquid foreign reserves held by the country stood at $14.64 billion. Net foreign reserves held by commercial banks stood at $5.24 billion.

The central bank did not specify a reason for the increase in the reserves.

“During the week ended on 05-July-2024, SBP reserves increased by US$ 16 million to US$ 9,405.1 million,” it said.

Last week, SBP forex reserves increased by $494 million, with the central bank saying official inflows from multilateral agencies had helped boost the foreign currency reserves.