The State Bank of Pakistan (SBP) has announced a significant increase in its foreign exchange reserves. According to the central bank’s weekly data, SBP’s reserves rose by $119 million to reach $9.273 billion as of August 9th.
In total, the country’s liquid foreign currency reserves, including those held by commercial banks, amounted to $14.645 billion. This represents an increase of $173 million compared to the previous week.
The net foreign reserves held by banks also saw a rise of $54 million, reaching $5.373 billion.
This positive development indicates a strengthening of Pakistan’s foreign exchange position. However, it’s important to continue monitoring the country’s reserves to assess its overall economic stability.