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       KARACHI: Foreign exchange reserves of the State Bank increased by $13 million to $12.05 billion during the week ended on Dec 6, announced the central bank on Thursday.

       The SBP reserves position is so comfortable that the finance minister stated the external financing gap for the current year has been met, eliminating the urgency to access international financial markets until Pakistan’s credit rating improves.

       The country’s overall foreign exchange holdings increased to $16.6bn, including $4.54bn held by the commercial banks.

       Published in Dawn, December 13th, 2024