In a positive development for Pakistan’s economy, the country’s foreign exchange reserves have experienced a significant boost of $173 million within a single week.
As per the most recent information from the State Bank of Pakistan, the overall amount of national foreign exchange reserves is currently $14.645 billion.
The growth in reserves is credited to a surge in the dollar holdings of both the Central Bank and commercial banks.
The Central Bank’s foreign currency reserves rose by $12 million to $9.273 billion, and banks’ foreign currency deposits grew by $5.3 million to $5.373 billion.
The substantial rise in foreign currency reserves is anticipated to offer essential support to Pakistan’s economy, which has been encountering difficulties lately.
Increasing reserves will stabilize the currency, enhance trade balances, and offer investors a feeling of reassurance.
