Pakistan has fulfilled another condition set by the International Monetary Fund (IMF) by achieving the targeted level of dollar reserves.
According to data released by the State Bank of Pakistan (SBP), the country’s foreign exchange reserves have even surpassed the set target.
The SBP statistics said that official foreign reserves stood at $14.51 billion at the end of the fiscal year on June 30, which reflected an increase of $5.2 billion during the 2024–25 financial year.
Experts stated that the IMF had set a target of $13.9 billion in foreign reserves for the fiscal year 2024–25.
The rise in reserves is attributed to a notable increase in remittances and an improvement in exports.
The SBP’s policy of purchasing dollars from the open market also contributed to strengthening the country’s foreign exchange reserves.
According to the data, the SBP bought $6.8 billion from the open market over the past ten months.
