April 29, 2024 (MLN): The official reserve assets, including foreign currency reserves, IMF reserve position, Special Drawing Rights (SDRs), gold, and other reserve assets, stood at $13.77 billion as of March 2024 compared to $13.34bn recorded in the previous month.
According to the detailed monthly data published by the State Bank of Pakistan (SBP) on Monday, the foreign currency reserves, which consist of securities, currency, and deposits held with other central banks and banks in Pakistan and abroad, amounted to $4.79bn as against $4.78bn a month earlier.
The gold reserves, which include gold deposits and swapped gold, amounted to 2.079 million fine troy ounces unchanged compared to the previous month, While in USD terms, it was recorded at $4.6bn, up from $4.26bn from the previous month.
The data further details that Pakistan's other foreign currency assets amounted to $98.51m as against $113.44m in February.
Meanwhile, the country's predetermined short-term net drains on foreign currency assets amounted to a nominal value of $26.66bn as against February's $29.55bn.
The majority of the outflows, consisted of principal payments valued at $23.07bn, while the interest on foreign currency loans, securities, and deposits stood at $3.71bn during the review month.
Among the principal payments, $1.42bn had a maturity of up to one month, $8.12bn had a maturity of more than one month but up to three months and $13.53bn had a maturity of more than three months but up to one year.
The report also indicated that Pakistan's aggregate short and long positions in forwards and futures in foreign currencies vis-à-vis the domestic currency, including the forward leg of currency swaps, amounted to $2.82bn.
This amount included short positions worth $3.58bn while long positions amounted to $666m.
In addition, there are $34.39m in collateral guarantees on debt due within a year, and $1.127bn contingent liabilities in foreign currency fall due up to one month.
Copyright Mettis Link News
Posted on: 2024-04-29T15:17:29+05:00
