Official reserve assets stand at $13.53bn as of January

February 07, 2024 (MLN): The official reserve assets, including foreign currency reserves, reserve position in funds, Special Drawing Rights (SDRs), gold, and other reserve assets, stood at $13.53 billion as of January, 2024 compared to $13.67bn recorded in the previous month.

According to the monthly data published by State Bank of Pakistan (SBP) on Thursday, the foreign currency reserves, which consist of securities, currency, and deposits held with other central banks and banks in Pakistan and abroad, amounted to $5.03bn.

The gold reserves, which include gold deposits and swapped gold stood at $4.27bn, down from $4.32bn from the previous month.

Meanwhile, the country's other reserve assets were recorded at $3.7bn, down from $4.39bn a month earlier.

The data further details that SDRs amounted to $531.43m, up from $112.12m the previous month amid the second installment of SDR 528m from the International Monetary Fund (IMF).

To note, the SDR is an international reserve asset. It is not a currency, but its value is based on a basket of five currencies, the US dollar, the euro, the Chinese renminbi, the Japanese yen, and the British pound sterling.

Additionally, the reserve position in funds, which represents Pakistan’s quota in the IMF, was $0.16m, reflecting no change from the previous month.

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