Pakistan’s foreign exchange reserves stand at US$ 15.94bn

KARACHI: Pakistan’s total foreign exchange reserves were recorded at US$15.94 billion during the week ended on February 14, ARY News reported citing the State Bank of Pakistan (SBP).

Pakistan’s reserves held by the SBP increased by US$ 35 million to US$ 11.2 billion during the time, the central bank said in a statement.

During the same period, Pakistan’s net foreign reserves held by commercial banks stood at US$4.74 billion.

“During the week ended on 14-Feb-2025, SBP reserves increased by US$ 35 million to US$ 11,201.5 million,” the SBP added.

Earlier last week, the SBP reported that Pakistan’s total foreign exchange reserves were recorded at US$15.86 billion during the week ended on February 7.

The SBP said on February 18 that Pakistan has achieved a significant milestone in its economic journey, recording a current account surplus of US$682 million during the first seven months of the current fiscal year (2024-25).

According to the central bank, the current account surplus of US$682 million from July 2024 to January 205 marks a substantial improvement from the same period last year, which saw a deficit of over $1.8 billion.

According to the SBP, in January 2025, the current account deficit stood at $420 million, compared to a surplus of $474 million in December 2024.

Despite the deficit in January, the country’s imports increased by 11 percent to $5.45 billion, while exports declined by 4 percent to $2.94 billion. The trade deficit for January surged by 37 percent to $2.51 billion, while the deficit in trade, services, and income increased by 26 percent to $3.56 billion.