Pakistan’s foreign exchange reserves stand at US$ 16.04bn

KARACHI: Pakistan’s total foreign exchange reserves stood at US$16.04 billion during the week ended on January 31, ARY News reported on Thursday citing the State Bank of Pakistan (SBP).

Pakistan’s reserves held by the SBP increased by US$ 46 million to US$ 11.41 billion during the period, the central bank said in a statement.

During the week ended on January 31, Pakistan’s net foreign reserves held by commercial banks stood at US$4.62 billion.

“During the week ended on 31-Jan-2025, SBP reserves increased by US$ 46 million to US$ 11,418.3 million,” the central bank added.

Pakistan’s total foreign exchange reserves were recorded at US$16.05 billion during the week ended on January 24.

Earlier on Monday, the SBP announced that the newly designed currency notes will enter circulation in 2025.

After announcing the new policy rate, SBP Governor Jameel Ahmed said in a press conference that new currency notes in all existing denominations will be rolled out in phases, rather than all at once, and will feature updated designs.

He said that the new currency notes would be sent to the federal cabinet for approval after the completion of the technical evaluation.

SBP Governor didn’t reveal which denomination will be the first to be issued.

According to a statement of SBP, it is an established practice of central banks to introduce new banknote series after every fifteen to twenty years to secure the integrity of banknotes and align them with the latest technological developments in the banknotes design and security features.