The State Bank of Pakistan has announced that the country’s foreign exchange reserves have reached a 19-month high.
According to a spokesperson, Pakistan’s dollar deposits saw an increase of $5.88 million, bringing the total reserves to $14.7035 billion.
The State Bank's reserves alone have surged by $1.86 billion, reaching $9.4237 billion, which is sufficient to cover two months of imports. This significant boost in reserves marks a positive development for the nation's economy, providing a buffer against external financial pressures and supporting import needs.
Economists note that the improved reserves position reflects the country’s ongoing efforts to stabilize its financial status and manage its foreign exchange resources effectively.
The rise in reserves is a crucial indicator of economic resilience and provides the government with greater flexibility in addressing financial challenges.
