SBP reserves rise $15.8m to $9.11bn
By MG News | June 06, 2024 at 05:54 PM GMT+05:00
June 06, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $15.8 million or 0.17% WoW to $9.11 billion during the week ended on May 31, 2024, data released by SBP showed on Thursday.
The central bank did not specify a reason for the increase.
On the other hand, the country's total reserves decreased by $99.8m or 0.70% WoW to $14.22bn.
The reserves held by commercial banks fell by $115.6m or 2.21% WoW to $5.11bn.
In the current fiscal year, SBP-held reserves have increased by $4.64bn or 103.95%.
This significant boost comes after the country secured the International Monetary Fund’s (IMF) Stand-By Arrangement (SBA) of about $3bn by end-June last year, which also helped unlock multilateral and bilateral funding.
Meanwhile, the current calendar year has seen an increase of $888.3m or 10.8%.
| Foreign reserves held by | May 31, 2024 | May 24, 2024 | Change | % Change |
|---|---|---|---|---|
| State Bank of Pakistan | 9,109.5 | 9,093.7 | 15.8 | 0.17% |
| Net Foreign Reserves Held by Banks | 5,106.1 | 5,221.7 | -115.6 | -2.21% |
| Total Liquid Foreign Reserves | 14,215.6 | 14,315.4 | -99.8 | -0.70% |
Amount in USD Million
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