SBP reserves rise $15.8m to $9.11bn

MG News | June 06, 2024 at 05:54 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

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%.

**Summary of Holding and Weekly Change**
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

Copyright Mettis Link News

Related News

Pakistan seeks Spanish expertise in olive farming

Pakistan pays $14bn in external debt servicing

Petrol falls Rs3, diesel Rs7 per litre from November 12

Name	Price/Vol	%Chg/NChg
KSE100	179,495.63 100.15M	0.23% 411.83
ALLSHR	107,306.90 569.71M	0.32% 337.60
KSE30	52,361.29 66.62M	0.25% 130.99
KMI30	256,775.95 54.72M	0.27% 702.12
KMIALLSHR	69,322.14 252.44M	0.43% 298.55
BKTi	49,476.50 12.74M	0.14% 71.02
OGTi	35,475.55 4.19M	1.04% 364.68

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	73,670.00	74,300.00 73,485.00	-1055.00 -1.41%
BRENT CRUDE	92.48	92.79 91.19	-0.28 -0.30%
RICHARDS BAY COAL MONTHLY	126.85	126.85 126.85	0.65 0.52%
ROTTERDAM COAL MONTHLY	136.20	136.25 135.50	2.20 1.64%
USD RBD PALM OLEIN	1,182.50	1,182.50 1,182.50	0.00 0.00%
CRUDE OIL - WTI	86.24	86.55 85.20	-0.29 -0.34%
SUGAR #11 WORLD	18.47	18.57 18.10	0.38 2.10%