Karachi: The State Bank of Pakistan has released details of the country’s foreign exchange reserves for the business week ending July 11. According to the announcement, Pakistan’s total foreign exchange reserves have reached $19.95 billion.
According to the State Bank, the reserves increased by $23.4 million, after which they became $14.52 billion. However, the reserves of commercial banks recorded a decrease of $95 million, and their volume was limited to $5.43 billion.
According to economists, the increase in the state bank’s reserves may be helpful in reducing the pressure of external payments; however, the decrease in the reserves of commercial banks may be a temporary trend.
