ISLAMABAD: Pakistan’s total liquid foreign reserves reached $14.78 billion as of August 23, 2024, according to the latest data released by the State Bank of Pakistan (SBP). The reserves showed an increase, largely attributed to the rise in the SBP’s reserves.
The breakdown of the reserves is as follows:
– State Bank of Pakistan (SBP) Reserves: $9.4 billion
– Net Reserves Held by Commercial Banks: $5.37 billion
– Total Liquid Foreign Reserves: $14.78 billion
During the week ending on August 23, 2024, the SBP’s reserves saw an uptick of $112 million, bringing the central bank’s total reserves to $9.4 billion. This positive movement in the reserves indicates a slight improvement in the country’s foreign exchange position, which remains crucial for managing external obligations and maintaining economic stability.
The net foreign reserves held by commercial banks, however, remained stable at $5.37 billion. The overall rise in the foreign reserves provides some relief amidst ongoing economic challenges, highlighting the importance of maintaining and increasing these reserves in the coming weeks.
