According to the released data by the State Bank of Pakistan, the country’s total liquid foreign exchange reserves have increased slightly by $3.4 million to $18.085 billion by the end of last week i.e. January 3, 2020. The forex reserves held by commercial banks; however, fell from $6.592 billion to $6.581 billion, it added.
The foreign exchange reserves held by the State Bank of Pakistan increased by $14 million to $11.503 billion by January 3 from $11.489 billion a year ago.
It is pertinent to mention that in late December, the IMF had released the second loan tranche of $454 million.
The improvement in the foreign exchange reserves depicts the healthy confidence of investors on Pakistan’s economy coupled with the measures taken by the government and the central bank alike.
The stabilizing situation of the foreign exchange reserves is one of the important indicators for the economic stability of the country besides current account surplus, growth in export values and etc.