SBP reserves rise $21.5m in a week

MG News | May 23, 2024 at 07:21 PM GMT+05:00

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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%.

**Summary of Holding and Weekly Change**
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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