Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $112 million on a weekly basis, clocking in at $9.4 billion as of August 23, data released on Thursday showed. Total liquid foreign reserves held by the country stood at $14.77 billion. Net foreign reserves held by commercial banks stood at $5.37 billion. The central bank did not specify a reason for the increase in the reserves. “During the week ended on 23-Aug-2024, SBP reserves increased by US$ 112 million to US$ 9,403.4 million,” it said. Last week, SBP foreign exchange reserves increased by $19 million. Pakistan is looking to raise up to $4 billion from Middle Eastern commercial banks by the next fiscal year (FY26), SBP governor Jameel Ahmad said in an interview on Tuesday, as the country looks to plug external financing gaps.