SBP reserves cross $9bn mark amid IMF's final tranche

MG News | May 09, 2024 at 06:53 PM GMT+05:00

0:00

May 09, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $1.1 billion or 13.92% WoW to $9.12bn during the week ended on May 03, 2024, according to the data released by the central bank on Thursday.

The increase was mainly due to the receipt of $1.1bn from International Monetary Fund's final tranche under SBA program, the central bank said.

SBP reserves are now at their highest level since July 2022.

Similarly, the country's total reserves rose by $1.14bn or 8.58% WoW to $14.46bn.

The reserves held by commercial banks rose by $28.6m or 0.54% WoW to $5.34bn.

In the current fiscal year, total liquid foreign reserves have increased by $5.3bn or 57.85%.

Meanwhile, the current calendar year has seen an increase of $1.79bn or 14.09%.

**Summary of Holding and Weekly Change**
Foreign reserves held by	May 03, 2024	April 26, 2024	Change	% Change
State Bank of Pakistan	9120.3	8006	1114.3	13.92%
Net Foreign Reserves Held by Banks	5338.6	5310	28.6	0.54%
Total Liquid Foreign Reserves	14458.9	13316	1142.9	8.58%

Amount in USD Million

Copyright Mettis Link News

Related News

SBP lowers remuneration rate on Special Cash Reserve Account for December

Pakistan's Forex Reserves Decrease by USD 133.20 Million

SBP Slows Pace of FX Purchases in FY26

Name	Price/Vol	%Chg/NChg
KSE100	166,283.55 167.56M	0.08% 138.20
ALLSHR	100,743.06 606.86M	0.18% 177.75
KSE30	50,481.85 68.41M	-0.03% -14.33
KMI30	238,092.04 74.86M	0.08% 183.16
KMIALLSHR	65,617.46 221.67M	0.08% 53.04
BKTi	45,081.48 14.67M	-0.08% -34.71
OGTi	33,080.66 7.44M	0.16% 54.22

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	92,975.00	92,995.00 92,380.00	135.00 0.15%
BRENT CRUDE	63.16	63.33 63.12	-0.10 -0.16%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	-0.45 -0.49%
ROTTERDAM COAL MONTHLY	97.00	97.90 97.00	-1.50 -1.52%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	59.51	59.74 59.48	-0.16 -0.27%
SUGAR #11 WORLD	14.91	15.00 14.78	-0.02 -0.13%