An overall notable increase of $3.203 billion was recorded in the country’s foreign exchange reserves during the current calendar year.
During the current calendar year, Pakistan’s foreign exchange reserves rose by a total of $2.876 billion at the State Bank of Pakistan (SBP), while commercial banks recorded an increase of $328 million.
According to figures released by the SBP, total national foreign exchange reserves stood at $16.409 billion at the end of the previous year, including $11.71 billion held by the SBP and $4.698 billion with commercial banks.
Total national foreign exchange reserves were recorded at $19.612 billion, of which $14.58 billion were held by the State Bank and $5.026 billion by commercial banks.
It is pertinent to note that the International Monetary Fund (IMF) has already released a tranche of $1.2 billion for Pakistan, which has been received by the SBP. This amount will be included in the foreign exchange data to be issued at the end of the current week, after which reserves will rise by a further $1.2 billion. Existing foreign exchange reserves are sufficient to cover 2.77 months of imports.
