Pakistani Central Bank’s Reserves Rise By 11 Million USD

Islamabad: Pakistani central bank’s foreign exchange reserves rose by 11 million U.S. dollars, the State Bank of Pakistan (SBP), said yesterday. The increase is a part of the country’s ongoing efforts to stabilize its economic position and manage its foreign exchange reserves effectively.

According to Nam News Network, the central bank’s reserves stood at 14.24 billion U.S. dollars during the week ending on Aug 8. This development reflects the bank’s strategic management of its reserves amidst fluctuating global economic conditions.

Net foreign reserves held by commercial banks were recorded at 5.25 billion dollars. The country’s total liquid foreign reserves stood at 19.49 billion dollars, as mentioned in the statement. This figure represents the combined reserves of both the central and commercial banks, indicating the overall liquidity available in the country’s foreign reserves.