Islamabad, Dec 20: The country’s total liquid foreign exchange reserves rose by $32 million last week.
As per the State Bank of Pakistan’s (SBP) weekly report, total liquid foreign exchange reserves reached $16.633 billion on December 13, 2024, compared to $16.601 billion on December 6, 2024.
During this period, SBP’s reserves grew by $31 million, totaling $12.082 billion.
Meanwhile, net foreign exchange reserves held by commercial banks saw a slight increase of $1.1 million, amounting to $4.551 billion by the end of the week.
Remittances saw a 5.0 per cent decline MoM but increased by 29 per cent year-on-year, reaching $2.9 billion in November. The cash sent home by Pakistani citizens working abroad rose by 34 per cent, totalling $14.8 billion in the five months leading up to November compared with the same period last year. This improvement follows the country’s crackdown on unofficial buying and selling of dollars.
