In a significant economic development, Pakistan’s foreign exchange reserves have reached a new milestone.
According to the latest data released by the State Bank of Pakistan, the country’s foreign exchange reserves have crossed the $14 billion mark, with the State Bank's dollar reserves exceeding $9.5 billion for the first time in 26 months.
According to the latest data released by the State Bank of Pakistan, the country's total dollar reserves now stand at $14.082 billion, with the government's foreign exchange reserves sufficient to cover 65 days of imports.
Economists hail this increase as a positive sign for Pakistan's economy, indicating improved stability and a reduced reliance on external borrowing.
The surge in reserves is attributed to a combination of factors, including increased dollar deposits from banks and a rise in foreign investment.
In the past week alone, the State Bank's dollar deposits increased by $40.30 million to $9.51 billion, while bank deposits rose by $20 million to $5.311 billion.
