KARACHI: Pakistan’s foreign exchange reserves increased by $27 million to $14.551 billion during the week ending November 14, the State Bank of Pakistan (SBP) announced on Thursday.
Including the reserves held by commercial banks, the country’s total liquid foreign reserves reached $19.738 billion, with banks holding $5.186 billion of the total.
Read More: SBP-held foreign reserves rise by $27mn to $14.55bn
The SBP’s reserves have improved significantly compared to $9.814 billion reported in FY22, although they remain below the $17.298 billion recorded in FY21.
The reserves are expected to get an additional boost next month, with Pakistan slated to receive $1.2 billion from the International Monetary Fund (IMF).
The increase in foreign exchange reserves is seen as a positive sign for stabilising the country’s external account and supporting the national currency amid economic challenges.
Read More: Pakistan’s SBP foreign reserves rise to $14.47 billion