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MPS Preview: High for Longer

SBP reserves fall by $53.9m in a week

SBP reserves fall by $53.9m in a week
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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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Posted on: 2024-03-07T19:27:06+05:00