Pakistan Foreign Exchange Reserves Record A Modest Gain Of $1.26 Million According To SBP Reports
A news article published on Dunya News states that Pakistan’s foreign exchange reserves recorded a modest gain of $1.26 million as Eid draws nearer. This comes as a welcome news and relief amidst the chaos and the slew of worrisome news that the Pakistani public has been forced to digest.
According to reports by SBP, the modest gain resulted in the reserves reaching a total of $16.35 billion. Overall, the total foreign exchange reserves which included SBP holdings and commercial banks reserves rose by $10.59 million to reach $21.70 billion.
An modest gain in the overall foreign exchange reserves signals a healthy balance of payments, the increasing ability of the government to meet its debt obligations and cover its imports. Specifically, it can indicate increased FDI (foreign direct investment) and can foster higher GDP and employment growth.
Like this article? Check our previous coverage of Pakistan Foreign Exchange Reserves here.
