Foreign currency deposits increase $41m in Feb

MG News | March 17, 2025 at 04:33 PM GMT+05:00

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March 17, 2025 (MLN): Foreign currency deposits rose $41m or 0.62% to $6.74 billion as of February 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 $341m or 5.32%.

According to the data, foreign currency deposits by residents stood at $5.86bn during the month under review which was 0.01% lower as the deposits reported in the previous month stood at $5.86bn.

While compared to same month of last year, it rose by 5.19% compared to deposits of $5.57bn.

As these deposits help to finance large fiscal and external current account deficits, during the month $892 million was utilized to finance the country's exports whereas, $1.6bn was utilized for import financing.

Further, $1.07bn was placed with SBP, while $41m and $369m were placed within Pakistani banks and outside Pakistan respectively.

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