SBP reserves fall by $53.9m in a week

MG News | March 07, 2024 at 07:27 PM GMT+05:00

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March 07, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) declined by $53.9 million or 0.68% WoW to $7.9 billion during the week ended on March 01, 2024, according to the data released by the central bank on Thursday.

The central bank attributed this decrease to debt repayments.

Similarly, the country's total reserves declined by $18.5m or 0.14% WoW to $13.02bn.

The reserves held by commercial banks rose by $35.4m or 0.7% WoW to $5.12bn.

In the current fiscal year, total liquid foreign reserves have increased by $3.86bn or 42.14%.

Meanwhile, the current calendar year has seen an increase of $0.35bn or 2.74%.

**Summary of Holding and Weekly Change**
Foreign reserves held by	March 01, 2024	February 23, 2024	Change	% Change
State Bank of Pakistan	7895.7	7949.6	-53.90	-0.68%
Net Foreign Reserves Held by Banks	5124.3	5088.9	35.4	0.7%
Total Liquid Foreign Reserves	13020	13038.5	-18.5	-0.14%

Amount in USD Million

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