Karachi: Pakistan’s foreign exchange reserves have continued to stabilize and the latest weekly data has brought positive news. The country’s total reserves increased by $74.1 million to $19.57 billion in the business week ending August 15.
The reserves of the State Bank of Pakistan have increased by $13 million to above $14 billion, reflecting the central bank’s monetary policy and effective arrangements for external payments.
At the same time, the reserves held by commercial banks have also increased significantly, increasing by $61.1 million to $5.31 billion. According to experts, this situation will not only support import spending but also strengthen investor confidence in the currency market.
Economic circles say that this improvement in foreign exchange reserves will reduce short-term pressure, but for long-term stability, increased exports and foreign investment are indispensable.
