Islamabad/Karachi (HRNW)– The country’s total foreign exchange reserves have recorded a significant increase of more than $3.4765 billion in one year.
The document states that the reserves of the State Bank of Pakistan (State Bank) increased by $2.5228 billion during this period, while the reserves of commercial banks increased by $953.7 million.
According to current figures, the total foreign exchange reserves have reached $19.605 billion, of which the State Bank’s share of the reserves is about $14.567 billion and commercial banks have $5.443 billion.
For comparison, a year ago, total reserves were around $16.1285 billion, of which the State Bank held $12.379 billion and commercial banks held $4.96 billion.
Sources say that the release of funds approved by the International Monetary Fund (IMF) next week is likely to further increase foreign exchange reserves.
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