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Pakistan’s foreign exchange reserves witness boost to $13 billion

Monitoring Desk

ISLAMABAD: Pakistan’s foreign exchange reserves have seen a modest increase, according to a recent State Bank report. The total reserves climbed to $13.2 billion, reflecting a rise of $131 million.

The SBP revealed that the rise in reserves was primarily attributed to the augmentation of dollar deposits. State Bank’s own dollar deposits experienced a significant boost, soaring by $1.07 billion to an impressive $7.9 billion.

Furthermore, commercial banks also played a role in bolstering the nation’s reserves, with their dollar deposits increasing by $11.4 million to reach $5.2 billion.
This surge in dollar reserves reflects positively on Pakistan’s economic stability and resilience, providing a cushion against external financial shocks and bolstering investor confidence in the country’s monetary system.