Pakistan’s foreign exchange reserves rose to $15.61 billion in the week ending May 9, the State Bank of Pakistan (SBP) reported. The SBP itself holds $10.4 billion, while commercial banks hold $5.21 billion. This marks an increase of $71 million over the previous week, reflecting positive inflows and growing confidence in Pakistan’s external account.
On May 13, the SBP received the second tranche of SDR 760 million (about $1.023 billion) from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF). This amount will be added to the reserves in the week ending May 16, further bolstering the country’s external buffers.
Gradual Recovery Since 2023 Lows
Pakistan’s reserves fell to a critically low level of around $3 billion in July 2023—enough to cover less than one month of import bills. Since then, the country has rebuilt its reserves through:
Multilateral support from the IMF’s EFF and the newly approved Resilience and Sustainability Fund (RSF)
Fiscal adjustments and improved trade management
Higher remittance inflows
These efforts have raised import cover to more than two months, helping stabilize the Pakistani rupee and improve market sentiment.
Remittances via Roshan Digital Account on the Rise
Remittances through the Roshan Digital Account (RDA) reached $10.18 billion by the end of April 2025, up from $10.003 billion in March. April alone saw $177 million inflow, compared with $235 million in March and $204 million in February.
The scheme, which serves non-resident Pakistanis (NRPs) and Person of Pakistani Origin (POC) card holders, offers banking, payment, and investment services. RDA registrations climbed from 805,442 in March to 814,244 in April, an increase of 8,802 accounts.
By month-end, overseas Pakistanis had invested:
$456 million in New Pakistan Securities
$900 million in New Pakistan Islamic Securities
$58 million in Roshan Equity Investments
Gold Prices Decline; Rupee Edges Up
On Thursday, local gold prices fell sharply:
Per tola price dropped by Rs 6,700 to Rs 335,200
Per 10 grams price fell by Rs 5,745 to Rs 287,379
A day earlier, gold had declined by Rs 2,300 per tola to close at Rs 341,900. Internationally, gold dipped to $3,120 per ounce in early trading but later recovered to trade near $3,210–$3,215.
Meanwhile, the Pakistani rupee strengthened marginally against the U.S. dollar, rising 0.04% in the interbank market. The rupee closed at 281.61 per dollar, up 11 paise from 281.72 the previous session.
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