ISLAMABAD: As of August 9, 2024, Pakistan’s total liquid foreign reserves have reached $14.645 billion, marking a significant milestone in the country’s economic landscape. According to the latest figures, the State Bank of Pakistan (SBP) holds $9.272 billion of these reserves, while the net foreign reserves held by commercial banks amount to $5.372 billion.
In a week-to-week comparison, the SBP’s reserves saw an increase of $119 million, a development that underscores the government’s ongoing efforts to stabilize the economy and strengthen its foreign exchange position. This rise in reserves comes as a positive signal, reflecting increased foreign inflows and potentially providing a cushion against external economic shocks.
The growth in reserves is critical for Pakistan, as it helps the country manage its external obligations, support the national currency, and create confidence among international investors. Maintaining and increasing these reserves remains a priority for the government to ensure economic resilience and stability in the face of global uncertainties.
Economic analysts are optimistic about this upward trend, noting that it could bolster Pakistan’s ability to navigate financial challenges and enhance its capacity to meet debt obligations while supporting economic growth. However, they also caution that sustained efforts are needed to maintain this momentum and further improve the country’s foreign exchange reserves in the coming months.
