KARACHI: Foreign exchange reserves held by Pakistan’s central bank, the State Bank of Pakistan (SBP), have surged to an all-time high, ARY News reported.
According to SBP data, central bank reserves climbed by $3.061 billion during the week ended September 11 to reach a record $21.4 billion.
Consequently, Pakistan’s total liquid foreign exchange reserves rose by $3.075 billion to $26.8 billion—their highest level since September 2021.
The State Bank attributed the sharp rise in reserves to the receipt of Eurobond proceeds, which has expanded the country’s import cover to over three months.
Meanwhile, net foreign reserves held by commercial banks rose by $15 million during the same period, bringing their total to $5.4 billion.
PM Expresses Gratitude
Prime Minister Shehbaz Sharif has expressed gratitude over the country’s foreign exchange reserves reaching an all-time high of $21.4 billion.
The Prime Minister stated that achieving this record level is a historic milestone, adding that it serves as proof of the economic team’s hard work and sound policy measures.
He highlighted that strong foreign remittances, exports, and financial discipline drove the uptick in foreign reserves, noting that expanded access to global markets reflects restored confidence in Pakistan’s economy.
Furthermore, the Premier stated that the increase in reserves will strengthen the country’s external payment capacity, while a stable economic outlook will open new avenues for foreign investment.
He also paid glowing tribute to Finance Minister Muhammad Aurangzeb and State Bank Governor Jameel Ahmad for their leadership in achieving record reserves, while expressing special appreciation for the vital contributions of overseas Pakistanis.
