Sunday, June 16, 2024
Business

The country’s foreign exchange reserves exceeded 20 billion, reaching the highest level

KARACHI (Monitoring Desk) Foreign exchange reserves have hit the amount of 20 billion due to government initiatives, while the current account balance in the first four months of the current financial year has been 1. Billion 1.16. Foreign exchange reserves have reached the amount of 20 billion, according to the State Bank of Pakistan. During the past week, official foreign exchange reserves have risen by 191 million.

The foreign exchange reserves of the government have crossed 12.93 billion, while commercial banks have 7.154 billion reserves. The balance of the current account has increased substantially over the first four months of the current financial year (1 July to 31 October), according to the central bank. In September, the balance of payments was 59 million compared to 38,382 million in October, leaving the current account balance at 1,2 billion in the first four months of the current year.

bA surplus of 1.4 billion was in the current account. In the same time last year, 1.4 billion. Increased remittances and a decreased trade deficit have helped improve the balance of the current account. The current account surplus for this year’s first four months stood at 1. A shortfall of 1.20 billion, relative to 1. In the same time last year, 1.4 billion.