The State Bank of Pakistan (SBP) reported a $15 million increase in foreign exchange reserves for the week ending May 10, according to data released by the SBP on Thursday.
As of May 10, the SBP’s foreign currency reserves were recorded at $9.136 billion, reflecting a rise from the previous week’s reserves of $9.120 billion reported on May 3.
The total liquid foreign currency reserves of Pakistan, which include net reserves held by banks other than the SBP, reached $14.626 billion during the same period, marking a notable increase of $168 million compared to the previous week.
Additionally, the net reserves held by banks stood at $5.491 billion, showing a significant rise of $152 million over the previous week.
This increase in foreign exchange reserves is an important indicator of Pakistan’s financial stability and its ability to meet external payment obligations. It reflects positively on the country’s economic resilience and the effectiveness of monetary policies aimed at maintaining a healthy balance of payments position.