SBP reserves declined by $236.8m in a week

MG News | December 07, 2023 at 07:21 PM GMT+05:00
December 07, 2023 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) declined by $236.8 million or 3.26% WoW to $7.02 billion during the week ended on December 01, 2023, according to the data released by the central bank on Thursday.
Similarly, the country's total reserves declined by $285.7m or 2.31% WoW to $12.11bn.
The reserves held by commercial banks diminished by $48.9m or 0.95% WoW to $5.09bn.
To note, towards the end of FY23, the IMF being a last resort saved Pakistan from a sovereign debt default with a $3bn Stand-by Arrangement (SBA).
The initial disbursement of $1.2bn from the IMF, alongside $3bn bilateral inflows from the Arab countries gave a substantial boost to the depleting foreign reserves held by the country.
Consequently, in the current fiscal year, total liquid foreign reserves have increased by $2.95bn or 32.17%.
Meanwhile, the current calendar year has seen an increase of $1.26bn or 11.64%.
In a recent development, Pakistan has secured initial approval from the International Monetary Fund (IMF) for the release of the next loan tranche under the current $3bn loan program.
Pending approval by the IMF's Executive Board, the agreement will grant Pakistan access to SDR 528m, which is around $700m.
Foreign reserves held by | December 01, 2023 | November 24, 2023 | Change | % Change |
---|---|---|---|---|
State Bank of Pakistan | 7020.2 | 7257 | -236.80 | -3.26% |
Net Foreign Reserves Held by Banks | 5086.9 | 5135.8 | -48.9 | -0.95% |
Total Liquid Foreign Reserves | 12107.1 | 12392.8 | -285.7 | -2.31% |
Amount in USD Million
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 166,553.28 727.76M | -0.47% -793.56 |
ALLSHR | 101,296.66 1,567.06M | -0.28% -289.04 |
KSE30 | 50,903.27 227.71M | -0.57% -289.80 |
KMI30 | 241,347.86 135.29M | -0.16% -394.95 |
KMIALLSHR | 66,524.37 778.95M | -0.27% -179.92 |
BKTi | 47,779.01 130.29M | -0.85% -408.88 |
OGTi | 32,913.20 28.90M | 0.79% 259.34 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 107,775.00 | 111,065.00 106,950.00 | -4330.00 -3.86% |
BRENT CRUDE | 63.29 | 63.92 61.38 | 1.97 3.21% |
RICHARDS BAY COAL MONTHLY | 80.50 | 0.00 0.00 | -1.00 -1.23% |
ROTTERDAM COAL MONTHLY | 92.75 | 0.00 0.00 | 0.70 0.76% |
USD RBD PALM OLEIN | 1,085.00 | 1,085.00 1,085.00 | 0.00 0.00% |
CRUDE OIL - WTI | 59.19 | 59.83 57.34 | 1.95 3.41% |
SUGAR #11 WORLD | 15.13 | 15.44 15.03 | -0.11 -0.72% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|