Karachi: Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by USD 28 million to PKR 14.302 billion during the week ending August 29, according to figures released on Thursday.
The country’s total liquid foreign reserves increased by USD 42 million to USD 19.66 billion. Of this, commercial banks’ reserves went up by USD 14 million, reaching USD 5.357 billion.
The SBP’s reserves, now covering 2.62 months of imports, have increased for the fourth consecutive week. While the central bank did not provide reasons for the ongoing rise in its weekly statement, analysts attribute the improvement to strong remittances and foreign exchange purchases by the SBP.
Pakistan faces a USD 500 million Eurobond repayment this month, followed by a USD 1 billion maturity in April 2026. However, SBP Governor Jameel Ahmad earlier stated that the central bank does not anticipate challenges in meeting future debt obligations. He projected reserves to reach USD 15.5 billion by December 2025 and climb further to USD 17 billion by June 2026.
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