SBP reserves rise $12.5m to $12.05bn

MG News | December 12, 2024 at 06:28 PM GMT+05:00

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December 12, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $12.5 million or 0.10% WoW to $12.05 billion during the week ended on December 06, 2024, data released by State Bank of Pakistan showed on Thursday.

On the other hand, the country's total reserves decreased by $19.1m or 0.11% WoW to $16.6bn.

The reserves held by commercial banks fell by $31.6m or 0.69% WoW to $4.55bn.

The central bank's reserves remain elevated, reaching levels last seen in March 2022.

Last week, SBP reserves rose by $619.8 million, or 5.43%, due to loan proceeds from the Asian Development Bank (ADB) for the Climate Change and Disaster Resilience Enhancement Program (CDREP).

In the current fiscal year, SBP-held reserves have increased by $2.66bn or 28.34%.

Meanwhile, the current calendar year has seen an increase of $3.83bn or 46.58%.

**Summary of Holding and Weekly Change**
Foreign reserves held by	December 06, 2024	November 29, 2024	Change	% Change
State Bank of Pakistan	12,050.8	12,038.3	12.5	0.10%
Net Foreign Reserves Held by Banks	4,550.1	4,581.7	-31.6	-0.69%
Total Liquid Foreign Reserves	16,600.9	16,620.0	-19.1	-0.11%

Amount in USD Million

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