Pakistan’s foreign exchange reserves rose for a second consecutive week, boosted by inflows into the central bank and commercial lenders.
The State Bank of Pakistan’s holdings climbed by $166.8 million to $11.68 billion in the week ended June 6, marking a 1.45 per cent increase, according to data released Thursday. Commercial banks also saw their reserves rise, up $110.5 million to $5.2 billion.
That pushed the country’s total foreign exchange reserves to $16.88 billion, an increase of $277.3 million, or 1.67 per cent, from the previous week.
Since the start of the fiscal year in July 2024, the SBP’s reserves have risen by $2.29 billion, reflecting a 24.35 per cent gain. However, on a calendar-year basis, reserves are marginally down by $34.9 million, or 0.3 per cent.
The build-up in reserves comes as Pakistan navigates external financing needs and works towards securing a new deal with the International Monetary Fund.
