SBP reserves rise $105m in a week

MG News | March 21, 2024 at 05:12 PM GMT+05:00
March 21, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $105 million or 1.33% WoW to $8.02 billion during the week ended on March 15, 2024, according to the data released by the central bank on Thursday.
Similarly, the country's total reserves rose by $239.4m or 1.82% WoW to $13.39bn.
The reserves held by commercial banks rose by $134.4m or 2.57% WoW to $5.37bn.
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 $1.1 billion.
To note, in the current fiscal year, total liquid foreign reserves have increased by $4.23bn or 46.19%.
Meanwhile, the current calendar year has seen an increase of $0.72bn or 5.66%.
Foreign reserves held by | March 15, 2024 | March 08, 2024 | Change | % Change |
---|---|---|---|---|
State Bank of Pakistan | 8017.9 | 7912.9 | 105.00 | 1.33% |
Net Foreign Reserves Held by Banks | 5372.8 | 5238.4 | 134.4 | 2.57% |
Total Liquid Foreign Reserves | 13390.7 | 13151.3 | 239.4 | 1.82% |
Amount in USD Million
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