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Mettis Global News
Mettis Global News
Mettis Global News

MPS Preview: SBP set to slash policy rate by 200bps

SBP reserves rise $18m in a week

SBP sets March 2025 deadline for Raast P2M adoption
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November 07, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $18 million or 0.16% WoW to $11.175 billion during the week ended on November 01, 2024, data released by State Bank of Pakistan showed on Thursday.

On the other hand, the country's total reserves decreased by $117.2m or 0.73% WoW to $15.932bn.

This is because the reserves held by commercial banks fell by $135.4m or 2.78% WoW to $4.757bn.

In the current fiscal year, SBP-held reserves have increased by $1.785bn or 19%.

Meanwhile, the current calendar year has seen an increase of $2.95bn or 35.92%.

Summary of Holding and Weekly Change

Foreign reserves held by November 01, 2024 October 25, 2024 Change % Change
State Bank of Pakistan 11,174.6 11,156.4 18 0.16%
Net Foreign Reserves Held by Banks 4,757.2 4,892.6 -135.4 -2.78%
Total Liquid Foreign Reserves 15,931.8 16,049.6 -117.2 -0.73%

Amount in USD Million

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Posted on: 2024-11-07T18:59:56+05:00