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.