SBP reserves rise $21.5m in a week
MG News | May 23, 2024 at 07:21 PM GMT+05:00
May 23, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $21.5 million or 0.24% WoW to $9.16 billion during the week ended on May 17, 2024, according to the data released by the central bank on Thursday.
The central bank did not specify a reason for the increase.
"During the week ended on May 17, 2024, SBP reserves increased by $22m to $9.16bn," said a statement issued by SBP.
On the other hand, the country's total reserves fell by $41m or 0.28% WoW to $14.59bn.
This was because the reserves held by commercial banks declined by $62.5m or 1.14% WoW to $5.43bn.
In the current fiscal year, total liquid foreign reserves have increased by $5.43bn or 59.23%.
Meanwhile, the current calendar year has seen an increase of $1.91bn or 15.09%.
| Foreign reserves held by | May 17, 2024 | May 10, 2024 | Change | % Change |
|---|---|---|---|---|
| State Bank of Pakistan | 9157 | 9135.5 | 21.5 | 0.24% |
| Net Foreign Reserves Held by Banks | 5428.4 | 5490.9 | -62.5 | -1.14% |
| Total Liquid Foreign Reserves | 14585.4 | 14626.4 | -41.0 | -0.28% |
Amount in USD Million
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