The foreign exchange reserves held by the State Bank of Pakistan (SBP) posted an increase of $75 million on a weekly basis, according to data issued by the central bank on Thursday. This rebound comes after a significant decline the previous week, highlighting the volatile nature of the country’s foreign currency reserves.
According to the latest data released by the central bank, on July 26, the foreign currency reserves held by SBP were recorded at $9.102 billion. This marks an increase of $75 million compared to the $9.027 billion recorded on July 19. The rise in reserves suggests a positive shift in the country’s foreign exchange stability, albeit a modest one.
Overall liquid foreign currency reserves held by the country, which include net reserves held by banks other than SBP, stood at $14.392 billion. This figure provides a broader picture of the nation’s foreign exchange status, encompassing reserves beyond those held solely by the central bank.
However, the net reserves held by banks showed a different trend, standing at $5.290 billion. This represents a decline of $19 million during the same week, indicating some fluctuations within the banking sector’s foreign currency holdings.
The recent data underscores the dynamic changes in Pakistan’s foreign exchange reserves, reflecting the complexities of the economic landscape and the ongoing efforts to stabilize the country’s financial position.