SBP reserves marginally rise by $4m in a week

MG News | March 28, 2024 at 03:58 PM GMT+05:00

0:00

March 28, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $4 million or 0.05% WoW to $8.02 billion during the week ended on March 22, 2024, according to the data released by the central bank on Thursday.

Similarly, the country's total reserves rose by $36.9m or 0.28% WoW to $13.43bn.

The reserves held by commercial banks rose by $32.9m or 0.61% WoW to $5.41bn.

In a recent development, the International Monetary Fund (IMF) staff and the Pakistani authorities have reached a staff-level agreement on the second and final review under Pakistan’s Stand-By Arrangement, subject to the approval of the IMF’s Executive Board.

Upon approval, Pakistan will have access to SDR 828 million which is around $1.1bn.

To note, in the current fiscal year, total liquid foreign reserves have increased by $4.27bn or 46.59%.

Meanwhile, the current calendar year has seen an increase of $0.75bn or 5.95%.

**Summary of Holding and Weekly Change**
Foreign reserves held by	March 22, 2024	March 15, 2024	Change	% Change
State Bank of Pakistan	8021.9	8017.9	04.0	0.05%
Net Foreign Reserves Held by Banks	5405.7	5372.8	32.9	0.61%
Total Liquid Foreign Reserves	13427.6	13390.7	36.9	0.28%

Amount in USD Million

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	166,677.70 295.62M	0.79% 1304.39
ALLSHR	100,309.12 590.21M	0.65% 649.40
KSE30	50,855.17 184.12M	0.72% 361.13
KMI30	239,315.92 162.68M	0.94% 2217.63
KMIALLSHR	65,437.31 338.54M	0.87% 565.13
BKTi	45,391.23 48.89M	0.60% 270.74
OGTi	32,857.06 26.79M	1.29% 418.64

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	91,500.00	93,590.00 90,590.00	1145.00 1.27%
BRENT CRUDE	62.32	63.39 62.12	-0.55 -0.87%
RICHARDS BAY COAL MONTHLY	85.00	0.00 0.00	-0.10 -0.12%
ROTTERDAM COAL MONTHLY	96.40	0.00 0.00	0.50 0.52%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	58.48	59.64 58.27	-0.17 -0.29%
SUGAR #11 WORLD	15.21	15.29 15.08	0.07 0.46%