ISLAMABAD (PEN) : Pakistan’s total foreign exchange reserves have increased by $70 million, reaching $16.63 billion, according to data released by the State Bank of Pakistan (SBP).
As of the week ending May 23, the SBP’s reserves stood at $11.51 billion, while commercial banks held $5.12 billion.
The central bank reported that during the past week, its own reserves rose by $70 million, bringing the SBP’s total to $11,516.0 million.
The uptick in reserves is a positive sign for the country’s external sector, reflecting improved inflows and a relatively stable balance of payments outlook.
