Business

Pakistan’s dollar reserves hit 19-month high!

Pakistan’s financial outlook is receiving a positive boost as the country’s foreign exchange reserves have reached their highest level in 19 months!

This news comes from a spokesperson for the State Bank of Pakistan in Karachi. They announced a significant increase of 5.88 million dollars in Pakistan’s dollar deposits, pushing the total reserves to a healthy USD 14.7 billion.

Economists are cautiously optimistic about this development. The current reserves are estimated to be enough to cover roughly two months of imports, which provides a buffer for the national economy.

The State Bank’s own holdings of foreign currency reserves have also seen a notable rise, increasing by 1.86 billion dollars to a total of USD 9.42 billion. This indicates that the central bank is actively managing its foreign exchange reserves.

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