Pakistan’s Foreign Exchange Reserves Rise to $16.04B | SBP Reserves Hit $11.42B
Pakistan’s foreign exchange reserves have reached $16.04 billion, with SBP-held reserves increasing by $46 million to $11.42 billion as of January 31, 2025. Net reserves held by commercial banks stand at $4.62 billion. The SBP did not specify the reasons for this rise, though it regularly purchases dollars from the interbank market. The increase in reserves has contributed to exchange rate stability, benefiting exporters. Looking ahead, the SBP aims to raise reserves to $13 billion before the end of FY25, with higher remittances supporting this goal.
- Total Foreign Exchange Reserves: Pakistan’s total liquid foreign exchange reserves stood at $16.04 billion.
- SBP Reserves Increase: Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $46 million in the week ending January 31, 2025.
- SBP Reserves Current Level: SBP’s total reserves reached $11.42 billion as of January 31, 2025.
- Commercial Banks’ Reserves: Net foreign reserves held by commercial banks amounted to $4.62 billion.
- Previous Week Decline: In the previous week, SBP reserves had decreased by $76 million.
- Unspecified Reasons: The SBP did not specify the reasons behind the increase in reserves.
- Forex Market Activity: The SBP regularly buys dollars from the interbank market but did not disclose the specific sources of the inflows.
- Target for FY25: The SBP aims to increase reserves to $13 billion before the end of Fiscal Year 2025.
- Impact of Higher Reserves: The rise in reserves has contributed to exchange rate stability, making it easier for exporters to sell their proceeds in a stable market.
- Role of Remittances: Higher remittance inflows have further strengthened the hope of achieving the $13 billion target.
