SBP reserves rise $105m in a week

MG News | March 21, 2024 at 05:12 PM GMT+05:00

0:00

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%.

**Summary of Holding and Weekly Change**
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

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,404.49 326.40M	-0.32% -556.16
ALLSHR	103,442.24 795.99M	-0.21% -217.04
KSE30	52,413.79 113.03M	-0.27% -143.72
KMI30	244,645.84 109.10M	-0.15% -378.05
KMIALLSHR	67,050.27 450.39M	-0.02% -14.08
BKTi	47,413.54 37.21M	-0.37% -176.81
OGTi	33,419.75 8.88M	-0.20% -67.52

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	88,750.00	88,860.00 88,415.00	690.00 0.78%
BRENT CRUDE	60.84	60.98 60.53	0.37 0.61%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	2.30 2.59%
ROTTERDAM COAL MONTHLY	96.90	96.90 96.90	0.50 0.52%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	56.86	57.00 56.60	0.34 0.60%
SUGAR #11 WORLD	14.85	14.87 14.45	0.37 2.56%