Currencies

Pakistan’s Foreign Exchange Reserves Drop

Pakistan’s Foreign Exchange Reserves Drop Despite FY26 Target Being Exceeded

Pakistan’s foreign exchange reserves have been reduced by $1.4 billion in less than a month, with State Bank holdings falling to $17 billion. During the week ending July 24, a further decline of $229 million was recorded. Total national reserves were reported at $22.442 billion, including $5.412 billion held by commercial banks. The SBP’s FY26 target of $18 billion had earlier been exceeded when reserves reached $18.4 billion under the IMF programme. It was also reported that $5 billion had been rolled over by Saudi Arabia, while $9 billion was purchased by the SBP from the interbank market.

Post Views: 130

Share on:

Up Next

Pakistani Rupee Gains Against US Dollar

Don't Miss

Pakistan Currency Gains Against Dollar but Slips Versus Euro

Click to comment

Currencies

Rupee Closes at Rs277.12 Against Dollar

The Pakistani rupee posted a marginal gain against the US dollar on Tuesday, September 29, closing at Rs277.12 in the interbank market. It strengthened by about three paisa, or 0.01%, from Monday’s close of Rs277.15. The move extended the local currency’s recent gains, although the day’s change was small.

Post Views: 78

Share on:

Currencies

Currency Markets Turn Cautious

Global currency markets traded cautiously on Thursday as investors assessed rising oil prices, higher bond yields and upcoming US inflation data. Energy-driven inflation concerns pushed benchmark 10-year US Treasury yields to their highest level since 2023. The dollar gained modest support, weakening the euro to $1.1633 and sterling to $1.3547. The yen paused its strong rally and traded near 153.70 per dollar after touching seven-month highs, ahead of an anticipated Bank of Japan rate increase. The dollar index edged up to 98.81, recovering slightly from a three-week low. Broader Asian currencies also weakened as oil prices increased.

Post Views: 99

Share on:

Currencies

Yen Holds Gains as Dollar Weakens

The Japanese yen held firm at 158.88 per US dollar on Thursday after a sudden 0.9% surge fuelled speculation about possible official intervention. The stronger yen pressured the dollar ahead of a crucial US jobs report, with the dollar index easing 0.04% to 99.56. The euro edged up to $1.1589, sterling recovered to $1.3482, while the Canadian dollar held at C$1.3836 after the Bank of Canada maintained interest rates.

Post Views: 148

Share on: