KARACHI: During the week that concluded on July 5, the State Bank of Pakistan’s (SBP) foreign exchange reserves rose by $16 million to $9.405 billion.
Up till the conclusion of FY24, the reserves surpassed the $9 billion goal. The central bank has been under IMF pressure to increase its foreign exchange holdings. The SBP controlled the currency rate, limited imports, and reduced the amount of dollars leaving the nation.
During the week under examination, the nation’s total foreign exchange reserves came to $14.644 billion. A large chunk of the $5.239 billion comes from commercial banks in this amount.
