Pakistan, May 9 -- KARACHI - The State Bank of Pakistan (SBP) has reported a rise of $118 million in its foreign exchange reserves, pushing the total to $10.3 billion.

According to the latest data released on Friday, the central bank noted a steady inflow that contributed to this boost. This increase comes as a positive development for the country's external account amid ongoing economic reforms. In addition to the SBP reserves, the foreign exchange reserves held by commercial banks also rose by $113 million. These now stand at $5.15 billion, reflecting growing investor confidence and improved inflows.

Overall, the combined foreign reserves of Pakistan now exceed $15.4 billion. This increase is expected to ease pressure on the rupee and...