SBP reserves fall $6m to $9.1bn
MG News | June 13, 2024 at 07:22 PM GMT+05:00
June 13, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $6.2 million or 0.07% WoW to $9.1 billion during the week ended on June 07, 2024, data released by SBP showed on Thursday.
The central bank did not specify a reason for the decrease.
On the other hand, the country's total reserves increased by $168.2m or 1.18% WoW to $14.38bn.
The reserves held by commercial banks rose by $174.4m or 3.42% WoW to $5.28bn.
Yesterday, the government presented budget 2024-25, hiking taxes to boost revenue and increase the chances of securing a new loan from the International Monetary Fund.
To note, Pakistan is in talks with the IMF for a larger and longer loan, estimated to be about $6-$8bn.
In the current fiscal year, SBP-held reserves have increased by $4.64bn or 103.81%.
This significant boost comes after the country secured the IMF Stand-By Arrangement (SBA) of about $3bn by end-June last year, which also helped unlock multilateral and bilateral funding.
Meanwhile, the current calendar year has seen an increase of $882.1m or 10.73%.
| Foreign reserves held by | June 07, 2024 | May 31, 2024 | Change | % Change |
|---|---|---|---|---|
| State Bank of Pakistan | 9,103.3 | 9,109.5 | -6.2 | -0.07% |
| Net Foreign Reserves Held by Banks | 5,280.5 | 5,106.1 | 174.4 | 3.42% |
| Total Liquid Foreign Reserves | 14,383.8 | 14,215.6 | 168.2 | 1.18% |
Amount in USD Million
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 161,538.41 225.01M | 1.22% 1945.50 |
| ALLSHR | 98,157.64 782.30M | 1.07% 1041.31 |
| KSE30 | 48,967.50 149.16M | 1.39% 669.92 |
| KMI30 | 233,460.23 99.91M | 2.12% 4853.21 |
| KMIALLSHR | 64,112.41 247.78M | 1.37% 865.18 |
| BKTi | 44,626.69 57.34M | 0.05% 22.27 |
| OGTi | 31,347.61 13.52M | 1.71% 527.94 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 106,465.00 | 107,030.00 104,565.00 | 2435.00 2.34% |
| BRENT CRUDE | 63.75 | 64.34 63.60 | 0.12 0.19% |
| RICHARDS BAY COAL MONTHLY | 87.25 | 0.00 0.00 | 0.35 0.40% |
| ROTTERDAM COAL MONTHLY | 96.50 | 96.50 96.50 | -0.25 -0.26% |
| USD RBD PALM OLEIN | 1,082.50 | 1,082.50 1,082.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 59.90 | 60.48 59.74 | 0.15 0.25% |
| SUGAR #11 WORLD | 14.35 | 14.39 14.08 | 0.25 1.77% |
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 |
|---|