Pakistan's foreign exchange reserves inch up by $120 million
Business
Pakistan’s total foreign exchange reserves rose by $120 million last week, reaching $19.612 billion.
KARACHI (Dunya News) – Pakistan’s foreign exchange reserves saw a slight but welcome rise last week, giving the economy a bit of breathing room at a time when every dollar counts.
According to the latest data released by the State Bank of Pakistan (SBP), the country’s total reserves increased by $120 million during the week ending December 5. With this uptick, total reserves now stand at $19.612 billion.
The central bank confirmed that official reserves held by the SBP also climbed by $120 million, reaching $14.586 billion. Meanwhile, commercial banks continue to maintain reserves of $5.257 billion.
The SBP said the $1.2 billion tranche recently received from the International Monetary Fund (IMF) will be reflected in the official reserves next week, giving the country an additional cushion. Economists say this inflow will help Pakistan keep its head above water as it navigates external payment pressures.
The modest improvement in reserves, though not a game-changer, is seen as a step in the right direction for stabilizing the economy and boosting market sentiment.
