Pakistan’s foreign exchange reserves saw a modest boost this week, with the State Bank of Pakistan (SBP) reporting a $1.1 million increase, bringing the country’s total domestic dollar reserves to $19.497 billion.
SBP holdings edge higher
According to the SBP’s weekly report, the central bank’s reserves rose by $11 million, reaching $14.243 billion. This growth reflects a continued effort to maintain currency stability and ensure adequate import cover.
Commercial bank deposits decline
While the SBP’s holdings grew, commercial banks’ dollar deposits recorded a slight drop. Deposits held by banks fell by $10 million, settling at $5.254 billion.
Meanwhile, inflation in essential commodities has recorded an increase for the second consecutive week, with the weekly inflation rate rising by 0.31% and the annual inflation rate reaching 2.21%, according to the latest report by the Pakistan Bureau of Statistics (PBS).
Also Read: Weekly inflation rises by 0.31%
A total of 17 essential items witnessed a price increase during the week. Among the most notable were tomatoes, which rose by Rs10.42 per kilogram, and live broiler chicken, which increased by Rs19.67 per kilogram. The price of a dozen eggs increased by Rs6.19, while a 20-kilogram flour bag became costlier by over Rs21.
Other items that recorded a rise in prices include onions, garlic, black gram and jaggery. In contrast, prices of bananas, potatoes, rice and LPG cylinders saw a decline. Prices of 24 items remained stable, while 9 items became cheaper.
