SBP reserves decreased by $54m in a week
MG News | February 01, 2024 at 08:11 PM GMT+05:00
February 01, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) dropped by $54 million or 0.65% WoW to $8.22 billion during the week ended on January 26, 2024, according to the data released by the central bank on Thursday.
This decline comes after SBP reserves witnessed a boost last week due to the second installment of SDR 528m, equivalent to $705.6m received from the International Monetary Fund (IMF).
However, the central bank incurred debt repayments, leading to a decrease in reserves this week.
The reserves held by commercial banks also fell by $24.9m or 0.49% WoW to $5.046bn.
Accordingly, the country's total reserves during the week dropped by $78.9m or 0.59% to $13.263bn.
To note, in the current fiscal year, total liquid foreign reserves have increased by $4.1bn or 44.79%.
Meanwhile, the current calendar year has seen an increase of $588.9m or 4.65%.
| Foreign reserves held by | January 26, 2024 | January 19, 2024 | Change | % Change |
|---|---|---|---|---|
| State Bank of Pakistan | 8216.5 | 8270.5 | -54 | -0.65% |
| Net Foreign Reserves Held by Banks | 5046.0 | 5070.9 | -24.9 | -0.49% |
| Total Liquid Foreign Reserves | 13262.5 | 13341.4 | -78.9 | -0.59% |
Amount in USD Million
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