Pakistan's foreign exchange reserves surge to highest level since 2021

Pakistan's foreign exchange reserves witnessed a significant increase during the latest reporting week after the government received inflows of $1.944 billion, pushing the country's total reserves to their highest level since 2021.

According to data released by the State Bank of Pakistan (SBP), the central bank's foreign exchange reserves rose by $1.944 billion to $18.471 billion, marking the highest level recorded since 2021.

The reserves held by commercial banks also increased by $3 million, reaching $5.518 billion during the same period.

As a result, Pakistan's total liquid foreign exchange reserves increased by $1.947 billion to $23.9887 billion, also the highest level since 2021.

The sharp rise in reserves is expected to strengthen the country's external position, improve import cover and enhance investor confidence as Pakistan continues efforts to stabilise its economy.