ISLAMABAD: Pakistan’s liquid foreign reserves stood at $14.39 billion as of July 26, 2024, according to the latest data released by the State Bank of Pakistan (SBP). This marks a notable increase in the country’s reserve position.
The foreign reserves are comprised of two main components:
- Reserves held by the State Bank of Pakistan: $9.10 billion
- Net foreign reserves held by commercial banks: $5.29 billion
During the week leading up to July 26, 2024, the SBP’s reserves saw an increase of $75 million, rising to $9.10 billion. This boost reflects a positive development in the country’s foreign exchange reserves and contributes to strengthening Pakistan’s economic stability.
The total liquid foreign reserves represent a crucial buffer for the country, providing a cushion against external economic shocks and supporting overall financial stability. The rise in reserves held by the SBP indicates improvements in foreign currency inflows and bolsters the central bank’s ability to manage exchange rate fluctuations and support economic policy objectives.
The detailed breakdown of reserves underscores the significant role played by both the central bank and commercial banks in maintaining the nation’s foreign exchange position.
