KARACHI: Domestic foreign exchange reserves increased by $53 million to $17.20 billion while funds held by commercial banks increased to $6.72 billion, bringing the cumulative forex reserves at $23.92 billion, data released by the State Bank of Pakistan or SBP for the week ending on October 29 showed on Thursday evening. According to media reports on October 22, foreign exchange reserves held by the SBP declined by $346 million on a weekly basis to $17.146 billion. However, Pakistan’s reserves are set for another boost after the announcement of Saudi Arabia’s $4.2 billion support package in financial assistance. Online
