Pakistan foreign exchange reserves surged on the back of higher remittances and inflows in Roshan Digital Accounts.

The country’s foreign exchange reserves rose to $16.1 billion, according to data released by State Bank of Pakistan on Thursday.

The State Bank of Pakistan (SBP) holds $11.02 billion of these reserves, while commercial banks hold $5.09 billion. During the week ending October 11, 2024, the SBP’s reserves grew by $215 million, reaching $11.02 billion.

Dealers report that there is a good supply of foreign currency in the inter-bank market, which is meeting the demand for imports and foreign debt repayments smoothly.