The total dollar reserves in Pakistan increased by $57 million, according to the fresh figures released by the State Bank of Pakistan on Thursday, country’s overall foreign exchange reserves reached around $14.79 billion.
This reserves gain comprised a rise of $2.7 million in the foreign currency reserves held by commercial banks, whose total reached $5.33 billion. Meanwhile, the reserves held by the State Bank itself have increased by $3 million to $9.467 billion.
The increase in foreign exchange reserves is a good indicator for the country’s economy, which serves to enhance Pakistan’s external financial standing. Increasing reserves is essential to maintain the economic stability of the country and to fulfill international financial commitments.
The rise also indicates the State Bank’s attempts to oversee and strengthen the country’s foreign currency reserves in the face of worldwide financial stress.
