Pakistan’s Foreign Exchange Reserves Get a Boost: $173 Million Increase
Central Bank’s foreign currency reserves rose by $12 million to $9.273 billion
Karachi-Pakistan’s Foreign Exchange Reserves Get a Boost: $173 Million Increase , A welcome development for Pakistan’s economy, the country’s foreign exchange reserves have seen a significant increase of $173 million within a single week. According to the latest data from the State Bank of Pakistan, the total foreign exchange reserves now stand at $14.645 billion,
As per the most recent information from the State Bank of Pakistan, the overall amount of national foreign exchange reserves is currently $14.645 billion.
The growth in reserves is credited to a surge in the dollar holdings of both the Central Bank and commercial banks.
The Central Bank’s foreign currency reserves rose by $12 million to $9.273 billion, and banks’ foreign currency deposits grew by $5.3 million to $5.373 billion.
The substantial rise in foreign currency reserves is anticipated to offer essential support to Pakistan’s economy, which has been encountering difficulties lately.
The growth in reserves is attributed to an increase in the dollar holdings of both the Central Bank and commercial banks. The Central Bank’s foreign currency reserves rose by $12 million to $9.273 billion, while banks’ foreign currency deposits grew by $5.3 million to $5.373 billion.
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This substantial rise in foreign currency reserves is expected to provide essential support to Pakistan’s economy, which has been facing challenges lately. The increased reserves will help stabilize the currency, improve trade balances, and give investors a sense of reassurance.
