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The reserves of the State Bank of Pakistan (SBP) decreased by $152 million due to external payments, as reported by the central bank.
Following these payments, SBP reserves fell from $11.249 billion to $11.09 billion.
However, commercial bank reserves rose from $4.62 billion to $4.83 billion. As a result, the country’s total foreign exchange reserves increased from $15.87 billion to $15.92 billion.
The SBP has decided to maintain the interest rate at 12 percent. On January 27, 2025, the central bank reduced the interest rate by 1 percent for two months, bringing it to 12 percent.
During a press conference in Karachi, SBP Governor Jamil Ahmed stated that the Monetary Policy Committee (MPC) reviewed the country’s economic performance before making this decision.
Earlier, on December 16, 2024, the SBP cut the interest rate by 200 basis points, lowering it from 15 percent to 13 percent.
