Pakistan’s Economy Sees a Positive Turn: Forex Reserves Increase by $57 Million
Boost in foreign exchange reserves comes as a positive sign for the country's economy
Karachi_Pakistan’s foreign exchange reserves have seen a welcome increase of $57 million, according to the latest figures released by the State Bank of Pakistan (SBP). The country’s total dollar reserves now stand at approximately $14.79 billion, a positive sign for the economy.
The increase in reserves is attributed to a rise of $2.7 million in foreign currency held by commercial banks, bringing their total reserves to $5.33 billion. Additionally, the State Bank’s own reserves have grown by $3 million, reaching $9.467 billion.
This boost in foreign exchange reserves is crucial for supporting Pakistan’s economic stability and meeting international financial obligations. The increase reflects the State Bank’s efforts to manage and bolster the nation’s foreign currency reserves amidst global financial pressures.
