Pakistan’s total liquid foreign reserves decreased to $15.93 billion as of November 1, 2024, marking a reduction from the previous week’s $16.05 billion, according to recent data from the State Bank of Pakistan (SBP).
The latest figures show the SBP holding $11.17 billion of the total, while commercial banks retain $4.76 billion.
Comparatively, reserves stood at approximately $16.5 billion at the beginning of October, highlighting a gradual yet steady depletion over the past month.
In November 2023, Pakistan’s reserves were estimated at around $17.1 billion, meaning reserves have seen a nearly 7% contraction over the last year.
The decline is partly due to Pakistan’s debt servicing commitments and a widening current account deficit, factors that continue to shape the SBP’s cautious reserve management strategy.
As reserve levels directly impact Pakistan’s economic stability and credit standing, the government is actively engaging with international partners and exploring options to attract foreign investment, aiming to reverse the trend.
