Increase in National Foreign Exchange Reserves: State Bank Report

The State Bank of Pakistan has released the latest data on the country’s foreign exchange reserves. As of September 13, 2024, the national foreign exchange reserves have shown a notable increase, reflecting a positive shift in Pakistan’s financial stability.

According to the State Bank’s recent report, the reserves rose by $30.4 million during the week ending September 13. This brings the total national foreign exchange reserves to $14.82 billion. The increase highlights an encouraging trend in Pakistan’s economic outlook.

The report further details that the State Bank’s own reserves experienced a significant boost, rising by $43 million to reach $9.50 billion. This rise in reserves is crucial for maintaining the country’s financial health and supporting the economy.

In contrast, reserves held by commercial banks saw a decrease. Specifically, commercial bank reserves fell by $12.6 million, bringing their total to $5.31 billion. This decline contrasts with the overall increase in national reserves but reflects typical fluctuations within the banking sector.

These figures illustrate a mixed yet positive financial landscape for Pakistan, with the increase in overall foreign exchange reserves signaling a strengthening of the country’s economic position. Continued monitoring and management of these reserves will be vital for sustaining financial stability and supporting future economic growth.

Leave a Reply

Your email address will not be published. Required fields are marked *