Pakistan’s State Bank of Pakistan (SBP) reports a $12 million weekly surge in foreign exchange reserves, reaching $8.05 billion. Total liquid reserves stand at $13.379 billion as of August 11, with net reserves at commercial banks totaling $5.3237 billion.
Recent support from UAE, Saudi Arabia, and IMF contributed to the boost, following a $3 billion Stand-by Arrangement (SBA) signing. Despite market expectations, SBP maintains a 22% key policy rate, focusing on inflation control.
SBP Governor Jameel Ahmed notes an anticipated 2%-3% growth rate for the coming year, as import restrictions are lifted and foreign exchange reserves strengthen. Inflation is expected to decline per the Monetary Policy Committee (MPC).