Pakistan’s foreign exchange reserves improve in October

Pakistan’s foreign exchange reserves reached around US$ 19.66 billion by the end of October, of which the State Bank of Pakistan’s share is around US$ 14.50 billion, while the reserves of commercial banks remained around US$ 5.16 billion, which has restored some hope of stability in the economy.

However, on a weekly basis, the total reserves saw some decline this weekend, where the decline was due to the decline in the reserves of commercial banks. This is a positive sign for the economy that the external financial position is improving, but at the same time it also confirms that some challenges within the banking sector still exist.