Pakistan’s liquid foreign reserves reach US$14.4 billion with SBP reserves rising M Haris

As of June 14, 2024, Pakistan’s total liquid foreign reserves have reached US$14,414.6 million, according to recent data released by the State Bank of Pakistan (SBP). The breakdown of these reserves is as follows:

• Foreign reserves held by the State Bank of Pakistan (SBP): US$9,134.7 million
• Net foreign reserves held by commercial banks: US$5,279.9 million

During the week ending June 14, 2024, the SBP reserves saw a notable increase of US$31 million, bringing its total reserves to US$9,134.7 million. This rise underscores positive momentum in Pakistan’s foreign reserves position, contributing to greater stability in the country’s external financial outlook.

The accumulation of foreign reserves is crucial for Pakistan as it provides a buffer against external economic pressures and supports the stability of the Pakistani Rupee in the foreign exchange market. Analysts will be closely monitoring these developments amid ongoing economic dynamics both domestically and internationally.