KARACHI: State Bank of Pakistan (SBP) reported a modest increase in the country’s total foreign exchange (forex) reserves, which climbed to $20.63 billion during the week ended April 17, reflecting continued external sector stability despite global uncertainties.
According to the central bank’s weekly statement, Pakistan’s total forex reserves rose by $104 million to $20.629 billion, compared with $20.525 billion recorded in the previous week. The increase was largely supported by higher inflows into commercial banks, particularly through workers’ remittances.
The SBP’s own reserves edged up by $18 million to $15.098 billion, compared with $15.08 billion a week earlier. Meanwhile, reserves held by commercial banks increased more significantly, rising by $86 million to $5.531 billion from $5.445 billion in the prior week.
Financial analysts said the growth in commercial bank reserves reflects steady inflows of overseas workers’ remittances, which have remained resilient even amid geopolitical tensions affecting global markets. These inflows continue to play a critical role in supporting Pakistan’s external account and easing pressure on the currency.
Despite recent volatility in global financial markets, Pakistan’s reserves have shown relative stability in recent weeks. Experts noted that earlier outflows related to Eurobond repayments and obligations to the United Arab Emirates were offset by inflows, including a $3 billion deposit from Saudi Arabia, which helped maintain reserve levels.
Market participants are now closely watching for additional inflows expected from the International Monetary Fund (IMF), which could further strengthen Pakistan’s external position in the coming months.
