ISLAMABAD: As of November 8, 2024, Pakistan’s total liquid foreign reserves stood at $15.97 billion, a crucial indicator of the country’s financial health. The reserves, which serve as a buffer against external shocks, saw a modest increase of $84 million during the week ending November 8. The rise was primarily driven by an uptick in the reserves held by the State Bank of Pakistan (SBP), which now totals $11.26 billion. In contrast, commercial banks across the country hold $4.71 billion in net foreign reserves.
The increase in the SBP’s reserves is being viewed as a positive sign for Pakistan’s economic stability, especially as the country continues to navigate global economic challenges. The $84 million rise in reserves reflects efforts to strengthen the nation’s financial position, which remains critical for meeting external obligations and supporting the currency.
This development in foreign reserves is expected to help shore up Pakistan’s capacity to manage its external debt and foster greater financial resilience moving forward. Financial experts have highlighted the steady growth in reserves as a step in the right direction for maintaining stability amid volatile global markets.
