SBP-held foreign exchange reserves surge $3m to $7.96bn.

KARACHI -- Foreign exchange reserves held by the State Bank of Pakistan (SBP) surged by $3 million to $7.96 billion as of November 11, according to the data released by the central bank on Thursday.

Pakistan's total liquid foreign reserves stand at $13.8 billion, while net foreign reserves with commercial banks clocked in at $5.84 billion.

'During the week ended on November 11, SBP's reserves increased by $3 million to $7,959.5 million,' said SBP in a statement without giving any details about the source of this inflow.

The central bank's reserves registered a reduction of $956 million due to debt payments, which fell to $7.96 billion as of November 4, 2022.

Last week, Finance Minister Ishaq Dar announced the Asian Infrastructure Investment Bank (AIIB) would extend $500 million as co-financing for a development programme in Pakistan.

'These funds will be received by the SBP within November...