KARACHI (Kashmir English): The country’s foreign exchange reserves have exceeded $20 billion, according to the State Bank weekly data on foreign exchange reserves.
According to the State Bank of Pakistan, the country’s foreign exchange reserves have increased by $1.93 billion in the business week ending July 4.
After this increase, the country‘s foreign exchange reserves have reached $20.2 billion.
According to the announcement, the State Bank’s reserves increased by $1.77 billion, after which the central bank’s reserves reached $14.5 billion.
At the same time, the reserves of commercial banks also increased by $160 million and their total volume was recorded at $5.52 billion.
Earlier, Overseas Pakistanis has sent a record remittance of $38.3 billion to Pakistan during the fiscal year 2024-25, the highest amount sent in a single year in the country’s history.
This was up from $30.3 billion in the previous fiscal year 2023-24, a significant increase of $8 billion, or 26.6 percent, in remittances on a year-on-year basis.
In this historic performance, the highest remittances were sent from Saudi Arabia, which was $9.3 billion.
Remittances of $7.8 billion were received from the United Arab Emirates, $5.9 billion from the United Kingdom, $4.5 billion from European countries, and $3.7 billion from the United States.
According to statistics, in the month of June 2025 alone, Pakistani workers sent remittances worth $3.4 billion, which is 7.9% more than in June last year.
The highest remittances during the month of June were received from Saudi Arabia at $823.2 million,
from the United Arab Emirates at $717.2 million, from the United Kingdom at $537.6 million, and from the United States at $281.2 million.
