Karachi: Pakistan’s foreign exchange reserves continue to improve. According to the State Bank of Pakistan, the country’s total foreign exchange reserves increased by $182 million during the business week ending January 2, taking the total value of the reserves to $21.19 billion.
According to a report released by the state bank, the largest share of this increase was the State Bank’s reserves, which increased by $146 million to $16.5 billion. At the same time, there was also an increase in the reserves held by commercial banks, which increased by about $39.6 million to $5.13 billion.
According to financial experts, this increase is being considered a sign of a decrease in Pakistan’s external payment pressure, which is not only supporting the rupee but is also improving the confidence of international financial institutions.
Due to the government’s efforts to increase remittances and control imports and external financing measures over the past few months, the reserves are gradually stabilising. Experts say that if this trend continues, Pakistan’s financial position may further strengthen in the coming months.
According to the State Bank, the direction of reserves in the coming weeks will depend on the pace of external payments, loan repayments, and remittances.
