Foreign exchange reserves of the State Bank of Pakistan (SBP) hit a four-year high this week. The central bank reported a $22 million increase during the week ending November 7, pushing total reserves to $14.524 billion.
This figure has now surpassed the previously hit SBP reserves high of $14.506 billion.
Reserves improve but remain below FY21 peak. The latest numbers mark a strong recovery compared to past years. The current level is much higher than the $9.814bn reported in FY22. However, it still remains below the $17.298 billion peak seen in FY21.
Additionally, Pakistan’s total liquid foreign reserves now stand at $19.724 billion. Out of this, $5.199 billion is held by commercial banks.
Pakistan is also expected to receive $1.2 billion from the International Monetary Fund (IMF) next month. This inflow will further strengthen the SBP’s foreign exchange reserves and support overall stability.