The State Bank of Pakistan (SBP)-held foreign exchange reserves snapped a three-week declining spree after losing $1,685 million cumulatively during this period.
The reserves rose above $3 billion once again after an increase of over 9%; however, the amount is still barely enough to cover one month of imports.
In a statement, the central bank said the foreign currency reserves held by the SBP were recorded at $3,192.9 million as of February 10, up $276 million compared with $2,916.7 on February 10.
The net forex reserves held by commercial banks stand at $5,509.3 million, $2,316.4 billion more than the SBP, bringing the total liquid foreign reserves of the country to $8,702.2 million, the statement mentioned.
The central bank did not mention any specific reason behind an increase in SBP-held reserves.
Pakistan is eyeing the crucial loan tranche from the International Monetary Fund (IMF) which would unlock other avenues of funding for Pakistan.
Faced with critically low US-dollar reserves, the government had banned all but essential food and medicine imports until a lifeline bailout is agreed upon with the IMF.
