Pakistan’s Foreign Exchange Reserves Exceed $20 Billion Mark

Pakistan’s foreign exchange reserves have crossed the $20 billion threshold, marking a significant milestone for the country’s economy. The State Bank of Pakistan (SBP) released its weekly foreign exchange reserves data, revealing a notable increase in reserves.

As of the business week ending on July 4th, Pakistan’s total foreign exchange reserves saw a rise of $193 million. This increase has brought the country’s reserves to a total of $20.02 billion.

According to the SBP’s statement, the central bank’s reserves alone increased by $177 million, reaching $14.50 billion. During the same period, commercial banks also experienced a rise in their reserves by $16 million, with their total reserves now standing at $5.52 billion.

This rise in reserves provides some relief to Pakistan’s economy and enhances its ability to meet international financial obligations and stabilize the currency.