Foreign currency deposits increase $110m in Apr

MG News | May 15, 2025 at 01:33 PM GMT+05:00

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May 15, 2025 (MLN): Foreign currency deposits rose $110m or 1.61% to $6.91 billion as of April 2025 compared to last month, latest data released by the State Bank of Pakistan showed.

While on a year-on-year basis, deposits rose by $388m or 5.94%.

According to the data, foreign currency deposits by residents stood at $6.03bn during the month under review, which was 2.79% higher as the deposits reported in the previous month stood at $5.87bn.

While compared to the same month of last year, it rose by 5.94% compared to deposits of $5.69bn.

As these deposits help to finance large fiscal and external current account deficits, during the month $911 million was utilized to finance the country's exports whereas, $1.52bn was utilized for import financing.

Further, $1.11bn was placed with SBP, while $14m and $478m were placed within Pakistani banks and outside Pakistan respectively.

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