Pakistan foreign exchange reserves reach historic $21.4 billion high

Pakistan’s foreign exchange reserves have reached a historic high of approximately $21.4 billion, according to data from the State Bank of Pakistan for the week ending September 11. This represents an increase of about $3.061 billion during that period, driven largely by proceeds from a recent Eurobond issuance.

Prime Minister Shehbaz Sharif described the milestone as a sign of economic stability and restored global confidence in the country’s economy. He attributed the growth to improved remittances, increased services exports, a better current account position, and strict fiscal discipline. The Prime Minister noted that the successful re-entry into international capital markets further reflects this improved standing.

With total liquid foreign exchange reserves crossing $26.79 billion, the government expects an enhanced capacity to meet external payment obligations and better resilience against global economic challenges. Shehbaz Sharif commended Finance Minister Muhammad Aurangzeb, the State Bank Governor, the government’s economic team, and overseas Pakistanis for their roles in this achievement.