Karachi April 15 2024: The total liquid foreign reserves of Pakistan increased by USD 995 million since the beginning of March 2024 and reached USD 13,441.7 million in the week ended on April 5, 2024 while foreign reserves held by State Bank stood at USD 8,040.3 million.
A major increase of USD 907 million was witnessed in the foreign exchange reserves of commercial banks since March 1st, 2024. Country Workers’ Remittances recorded an inflow of USD 3.0 billion during March 24. In terms of growth, during March 24, remittances increased significantly by 31.3 percent on m/m basis and 16.4 percent on y/y basis.
The State Bank of Pakistan, in a statement issued here on Monday, informed that foreign exchange reserves held by the central bank decreased by USD 0.1 million to USD 8,040.3 million during the week under review.
Meanwhile, net foreign reserves held by commercial banks were recorded USD 5,401.4 million, it added. Total liquid foreign reserves held by the country, in the previous week ended on March 29, 2024, were USD 13,378.9 million. Among them foreign reserves held by the central bank were USD 8,040.4 million while net foreign reserves held by commercial banks were USD 5,338.5 million.
