SBP reserves marginally rise by $4m in a week
MG News | March 28, 2024 at 03:58 PM GMT+05:00
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%.
| 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
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