Karachi: Pakistan’s foreign exchange reserves have once again seen an improvement. According to data from the State Bank of Pakistan, the total reserves have reached $19.57 billion in the business week ending August 15, after an increase of $74.1 million.
According to experts, the recent increase is the result of a decrease in pressure on global payments and import costs. The State Bank’s reserves have increased by $13 million to over $14 billion, which is being considered a sign of stability for the country’s economy.
On the other hand, the reserves of commercial banks have also increased significantly. Their reserves have increased by $61.1 million to $5.31 billion, which is being considered a positive development for the strengthening of the banking system.
Economic analysts say that if the trend continues, Pakistan’s foreign exchange reserves could improve further in the coming weeks, but external debt repayments and oil imports remain a major challenge.