SBP reserves hit two-year high above $9bn

KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves reached a two-year high, crossing the $9 billion mark after inflows from the International Monetary Fund (IMF).

The central bank released the latest data about the foreign exchange reserves on Thursday, showing that the reserves went up to $9.120bn at the end of the week on May 3.

“During the week, the SBP reserves increased by $1.114bn to $9.120bn mainly due to receipt of $1.1bn from the IMF as the final tranche...