State Bank of Pakistan’s liquid forex reserves improve

As of November 21, 2024, Pakistan’s total liquid foreign reserves have crossed $15.96 billion, a crucial indicator of the country’s financial health, reported 24NewsHD TV channel. 

According to State Bank of Pakistan report, during the last two weeks State Bank's foreign exchange reserves increased by $29 million and overall reserves increased to $11.288 billion. The State Bank reserves have reached equal to more than two months of import bills of the country. While reserves of commercial banks decreased by $2.70 billion and reach $4.68 billion. The country's gross reserves exceeded $15.967 billion with an increase of 2 million dollars, State Bank said.

The rise was primarily driven by an uptick in the reserves held by the State Bank of Pakistan (SBP), which now totals $11.26 billion. In contrast, commercial banks across the country hold $4.71 billion in net foreign reserves.

Reporter: Ashraf Khan