Pakistan's liquid foreign reserves have seen a slight increase, reaching $14.6 billion as of May 10, 2024.
According to data released by the State Bank of Pakistan (SBP), the central bank's liquid foreign reserves stood at $9.135 billion, while commercial banks held $5.490 billion in net foreign reserves.
The SBP's reserves saw an increase of $15 million during the week ended May 10, bringing the total to $9.135 billion. This slight boost has brought the country's total liquid foreign reserves to $14.626 billion.
This increase is a positive sign for Pakistan's economy, which has been facing challenges in recent times. The State Bank spokesperson highlighted that commercial banks had deposits of $5.499 billion as of the week ending May 10, indicating a stable banking sector.
While the increase is modest, it is a step in the right direction for Pakistan's economy. The country has been working to improve its foreign exchange reserves, which are essential for meeting international payment obligations and maintaining economic stability.
The SBP's data release provides a glimmer of hope for Pakistan's economic growth, and experts are watching closely to see if this trend continues. With a stable banking sector and increasing foreign reserves, Pakistan may be on the path to economic recovery.
