Despite the repayment of $1 billion in Eurobonds, Pakistan’s foreign exchange reserves experienced a positive trend this week, as the State Bank’s dollar reserves saw a marginal increase.
Reports indicate that the State Bank’s reserves rose by $1.5 million, reaching a total of $8.055 billion. This improvement occurred despite the recent payment of $1 billion towards Eurobonds.
However, there is some negative news as well. The dollar reserves held by commercial banks in Pakistan decreased by $824 million, falling to $5.32 billion.
These developments come amid fluctuations in foreign exchange reserves, with a decrease of $68 million reported for the week ending April 12. It is worth noting that on April 12, the State Bank made a significant payment of $1 billion towards Eurobonds.
Despite this sizable payment, the efforts of the State Bank appear to have contributed to the overall stability and resilience of Pakistan’s foreign exchange reserves.
