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CPI Preview: Inflation to fall below 14% YoY in May

SBP reserves rise $105m in a week

SBP reserves rise by $15.2m in a week
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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

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Posted on: 2024-03-21T17:12:56+05:00