IPakistan’s foreign exchange reserves have risen to $16.65 billion, the highest level in five months, according to the latest data released by the State Bank of Pakistan (SBP). The reserves now cover approximately 70 days of imports, marking a significant improvement in the country’s external financial position.
The central bank’s reserves alone surged by a record 10% in just one week, jumping by $1.04 billion to reach $11.45 billion. However, commercial banks saw a slight decline in their dollar holdings, with deposits decreasing by $8.7 million to $5.20 billion during the same period.
The increase in reserves reflects improved economic stability and comes as a positive sign for Pakistan’s financial outlook.
Also read ‘Pakistan’s foreign reserves grow by $71 million, total reaches $15.6 billion
