SBP forex reserves surge $1.2bn

Dawn reported that the State Bank of Pakistan's foreign exchange reserves rose by $1.2 billion to reach $18.328bn in the week that ended on September 4. The central bank said on Thursday that the jump followed the inflow of commercial loans taken by the Government of Pakistan. The rise took place over a single week, which marks a sharp increase in the central bank's holdings.

Liquid foreign reserves across the country totalled $23.715bn, a figure that also counts the $5.387bn that commercial banks hold. Commercial bank holdings are reported as part of that combined total.

The report is a single weekly update on the country's external buffers. It names no listed company or sector, so its link to individual PSX stocks is indirect.