Pakistan’s Foreign Exchange Reserves Rise to $9.27 Billion After $119 Million Boost

Pakistan’s foreign exchange reserves saw an increase of $119 million, pushing the total reserves held by the State Bank of Pakistan (SBP) to $9.27 billion as of August 9, 2024, according to the latest data released on Thursday.

This growth contributed to the country’s total liquid foreign reserves, which now stand at $14.64 billion. Out of this, the net foreign reserves held by commercial banks amount to $5.37 billion.

Although the central bank did not provide a specific reason for the uptick in reserves, the rise is notable. It follows a previous week’s increase where SBP reserves rose by $51 million, continuing the positive trend in the country’s foreign exchange reserves.