SBP’s foreign exchange reserves climb to $14.51bn

The State Bank of Pakistan (SBP) said on Wednesday that its foreign exchange reserves rose to $14.51 billion by June 30. Last month, the central bank’s reserves increased by $167 million to $11.675bn during the week ending June 6, though it failed to reach its target of $14bn by the end of the 2024-25 fiscal year. A press release issued by the SBP today said its reserves rose by $5.12bn to reach $14.51bn, as compared to $9.39bn on June 30 last year. “This reflects a noticeable improvement in the country’s current account balance and realisation of planned inflows during the year,” the SBP said.