Central Bank Reserves: Analyzing SBP Foreign Exchange Reserves Growth to Over $11bn
The State Bank of Pakistan (SBP) reported a notable increase in its foreign exchange reserves, reaching $11,022.7 million during the week ending October 11, 2024. This rise of US$ 215 million marks the highest level of SBP-held reserves in the last 2.5 years. The enhanced central bank reserves not only indicates improved financial stability but also illustrates a positive shift in Pakistan's forex reserves management. Stakeholders, including the Forex Association of Pakistan, view this growth as a crucial development for the economic outlook.
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