Pakistan’s Foreign Reserves Soar to $10.3 Billion Following $118 Million Surge

Karachi, May 9 — According to the State Bank of Pakistan (SBP), the country’s foreign exchange reserves have increased by $118 million, bringing the overall amount to $10.3 billion.

The most recent statistics published on Friday indicate that the central bank observed a consistent influx contributing to this enhancement. This rise is seen as a favorable progression for the nation’s balance of payments during continuing economic restructuring. Furthermore, along with the SBP reserves, the foreign currency holdings maintained by commercial banks increased by $113 million. They currently total $5.15 billion, underscoring rising investor trust and bolstered financial inflows.

In total, Pakistan’s aggregate foreign reserves have surpassed the $15.4 billion mark. This rise is anticipated to alleviate stress on the Pakistani rupee and enhance the nation’s capacity to handle external debt payments. Financial experts view this growth as an indication of economic stabilization. Additionally, it bolsters Pakistan’s position during discussions with global creditors and financiers for securing more monetary assistance.

Going ahead, specialists propose that sustained fiscal restraint and expanding exports will be crucial for keeping up this pace and bolstering the nation’s economic standing.