Pakistan’s foreign exchange reserves continued to recover for the second consecutive week, offering some relief after a sharp decline in April.
The State Bank of Pakistan (SBP) reported an increase of $118.1 million in its reserves for the week ending May 2, bringing the total to $10.33 billion. This follows a smaller gain of $9 million the previous week, marking a combined two-week rise of $127 million.
The recent uptick comes after a notable drop of $367 million earlier in April, which had dragged SBP-held reserves to their lowest level in seven months.
Total foreign exchange reserves, which include both SBP and commercial bank holdings, rose by $230.8 million to reach $15.48 billion. Commercial banks added $112.7 million to their reserves during the week, taking their total to $5.15 billion.
On a fiscal year-to-date basis, SBP reserves have grown by $943 million — a gain of just over 10 per cent. However, they are still down by $1.38 billion, or nearly 12 per cent, since the start of the calendar year.
The central bank has not disclosed the exact sources behind the recent inflows, but the positive trend suggests a degree of stability returning to Pakistan’s external position after weeks of pressure.
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