Pakistan’s foreign exchange reserves stand at US$ 15.92bn

KARACHI: Pakistan’s total foreign exchange reserves were recorded at US$15.92 billion during the week ended on February 21, ARY News reported on Thursday, citing the State Bank of Pakistan (SBP).

Pakistan’s reserves held by the SBP decreased by US$ 21 million to US$ 11.22 billion during that time, the central bank said in a statement.

During the same period, Pakistan’s net foreign reserves held by commercial banks stood at US$4.7 billion.

“During the week ended on 21-Feb-2025, SBP reserves increased by US$ 21 million to US$ 11,222.4 million,” the SBP added.

Earlier on February 20, the SBP reported that Pakistan’s foreign exchange reserves reached $15.94 billion as of February 14.

The SBP’s reserves saw a $35 million increase to $11.2 billion during this period. Meanwhile, commercial banks held $4.74 billion in net foreign reserves.

Earlier in the day, the finance ministry issued a monthly economic outlook report, saying that Pakistan’s economy continued to demonstrate positive developments in the first seven months of the current fiscal year.

In its monthly economic outlook report, the finance ministry noted that the steep decline in inflation fostered a stable financial environment, enabling the central bank to steadily reduce the policy rate. Investors’ confidence is evident in the convincing performance of Pakistan Stock Exchange.

According to the finance ministry’s report, during the first six months of current fiscal year, total revenues grew by forty-two point five percent to 9763.8 billion rupees against 6854 billion rupees last year.