SBP purchases $3.8 billion in FX market to strengthen reserves

ISLAMABAD: From June to October 2024, the State Bank of Pakistan (SBP) bought a total of $3.8 billion in the domestic foreign exchange (FX) market, according to data released by the central bank on Tuesday. The SBP typically reports foreign exchange market interventions with a delay of three months.

These market interventions contributed to an increase of $2.1 billion in Pakistan’s foreign…