ISLAMABAD: Pakistan’s total liquid foreign reserves reached $14.67 billion as of August 16, 2024, according to the latest data released by the State Bank of Pakistan (SBP). This figure reflects a modest increase in the country’s foreign reserves, which have been under close scrutiny amid ongoing economic challenges.
The breakdown of the reserves is as follows: the State Bank of Pakistan holds $9.29 billion, while commercial banks collectively manage $5.37 billion. The total reserves represent the sum of these holdings.
During the week ending August 16, 2024, the reserves held by the SBP saw an uptick of $19 million, bringing their total to $9.29 billion. This increase, though slight, is a positive sign for the country’s financial stability, particularly as global economic conditions continue to pose challenges.
The net foreign reserves held by commercial banks remained steady, contributing to the overall liquidity of the nation’s foreign reserves. As Pakistan navigates a complex economic landscape, the status of its foreign reserves remains a critical factor in ensuring economic resilience.
