Pakistan Foreign Exchange Reserves register significant increase

Pakistan Foreign Exchange Reserves register significant increase

An increase of $67 million has been recorded in Pakistan's foreign exchange reserves, bringing the total reserves to $12.92 billion. According to data released by the State Bank, as of October 13, 2023, the State Bank's foreign exchange reserves stand at $7.71 billion.

Similarly, commercial banks have recorded a reserve volume of $5.20 billion in foreign exchange reserves, bringing the total national foreign exchange reserves to $12.92 billion.

According to the Central Bank, there was an increase of $67 million in foreign exchange reserves during the past week.

The Current Account Deficit (CAD), according to the State Bank, remained at $8 million in September 2023, while it was a deficit of $164 million in August 2023, resulting in an increase of $156 million in the current account deficit.