KARACHI: During the week that concluded on July 12, the State Bank of Pakistan’s (SBP) foreign exchange reserves climbed by a pitiful $19 million to $9.423 billion.
Currency stability has been guaranteed by the SBP reserves, which have been rising for a number of weeks. The capacity of the central bank to make timely payments on foreign obligations determines the currency rate in considerable part.
Experts predict that the nation will have to make a sizable payment for debt servicing by the end of this month or the first week of August. The nation’s total reserves rose to $14.703 billion during the course of the week, with $5.279 billion coming from commercial banks.
Published in Bloom Pakistan, July 19th, 2024
