Pakistan’s foreign exchange reserves have seen a significant boost of $5.46 billion since the beginning of the current fiscal year, according to data from the State Bank of Pakistan. The reserves stood at $9.16 billion at the close of the previous fiscal year. As of May 10th, however, domestic foreign exchange reserves had climbed to $14.626 billion. This represents a substantial increase of over 59%. This positive development comes as welcome news for Pakistan’s financial stability. Strong foreign exchange reserves allow the country to better manage external debt obligations, stabilize the exchange rate, and weather economic shocks.
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