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

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

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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

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