Islamabad(Business Reporter);Pakistan’s Liquid Foreign Reserves Stand at $14.39 Billion, Pakistan’s total liquid foreign reserves have reached $14.39 billion, according to the latest data released by the State Bank of Pakistan (SBP). This increase in foreign reserves is a positive sign for the country’s economy, indicating improved financial stability.
The State Bank of Pakistan (SBP), in a statement issued here on Thursday, informed that its liquid foreign reserves increased by $ 75 million to reach $ 9,102.2 million during the week ended on July 26, 2024.
Meanwhile, net foreign reserves held by commercial banks were recorded as $ 5,289.5 million during the week under review, it added.
Total liquid foreign reserves held by the country, in the previous week ended on July 19, 2024, were $ 14,335.4 million. Among them foreign reserves held by the central bank were recorded as $ 9,027.2 million while $ 5,308.2 million were held by commercial banks.
The increase in foreign reserves is attributed to various factors, including the receipt of loans from international financial institutions and improved remittances from overseas Pakistanis.
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This boost in foreign reserves will help Pakistan meet its international payment obligations and stabilize its currency. The government and economic experts have welcomed this development, hoping it will contribute to the country’s economic growth and development.
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