Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

Trending :

SBP reserves marginally rise by $4m in a week

PKR drops by around 2 paisa against USD
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

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

Posted on: 2024-03-28T15:58:14+05:00