KARACHI: The current account posted a deficit of $420 million last month, almost the same as in Jan 2024, but the deficit slashed a rising surplus accumulated during the current fiscal year (FY25).

Financial market experts see the situation as alarming since the January deficit reflected a growing pressure on the country’s foreign exchange reserves. Even though remittances grew by $5 billion during the first seven months of the current fiscal year, the current account posted a deficit.

According to data issued by the State Bank on Tuesday, the deficit stood at $420m last month — a marginal rise over $404m in January last year.

But December posted a surplus of $474m, raising the total for the first six months of FY25 to $1.2bn. The July-Jan period of FY25 still shows a........

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