KARACHI: In the week ending September 13, 2024, the State Bank of Pakistan’s (SBP) foreign exchange reserves increased by $43 million to reach $9.5 billion, as The News reported on Friday. This increase occurred despite the current government’s relentless efforts to address the nation’s complicated economic challenges.
While the nation’s foreign exchange reserves increased by $30 million to $14.827 billion, the reserves held by commercial banks declined by $13 million to $5.317 billion.
This comes as the coalition government led by Prime Minister Shehbaz Sharif is attempting to get the executive board of the International Monetary Fund to approve the $7 billion rescue package that Islamabad and the lender agreed upon in July.
The nation will be successful in obtaining the executive board’s membership, according to Finance Minister Muhammad Aurangzeb last week.
