Pakistan has witnessed a notable rise in its foreign exchange reserves, largely driven by an increase in dollar deposits within banks. The country's dollar reserves saw an uptick of $16.8 million recently, bringing positive news for the economy.
According to recent data, banks' dollar deposits rose by $17.4 million, reaching a total of $5.28 billion. This influx has played a crucial role in boosting the overall foreign exchange reserves.
However, the government’s dollar reserves experienced a decline of $62 million, bringing the total down to $9.10 billion. Despite this, the overall increase in foreign exchange reserves is attributed to the substantial rise in banks' dollar deposits.
The increase in foreign exchange reserves is a positive indicator for Pakistan's economic stability, showing that the banking sector is attracting more foreign currency deposits. This trend can help mitigate potential economic challenges and contribute to the country's financial resilience.
