Forex reserves rose, rupee appreciated against dollar this year

ISLAMABAD: Foreign exchange reserves and Pak rupee appreciated against dollar in 2024. Total foreign exchange reserves increased by over $3.95bn while the value of rupee against dollar increased by around Rs3 in the year. State Bank reserves increased by $3.8481 billion in 2024 while commercial banks’ reserves increased by $111.4 million. The total foreign exchange reserves reached 16.63 billion. The State Bank’s reserves amounted to $12.815 billion and commercial banks’ reserves amounted to $4.5512 billion.

Foreign exchange reserves at the end of 2023 were $12.6732 billion out of which the State Bank’s reserves were $8.23 billion and commercial banks $4.43 billion and $4.49 billion, respectively.