SBP reserves rise $24m to $9.53bn
MG News | September 26, 2024 at 07:03 PM GMT+05:00
September 26, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $24 million or 0.25% WoW to $9.53 billion during the week ended on September 20, 2024, data released by State Bank of Pakistan showed on Thursday.
Similarly, the country's total reserves increased by $46.6m or 0.31% WoW to $14.87bn.
The reserves held by commercial banks rose by $22.6m or 0.43% WoW to $5.34bn.
The Executive Board of the International Monetary Fund (IMF) on Wednesday concluded the 2024 Article IV consultation and approved a 37-month Extended Arrangement under the Extended Fund Facility (EFF) for Pakistan in the amount of SDR 5,320 million (262% of quota, or around US$7 billion).
The Board’s decision allows for an immediate disbursement of SDR 760m (or about US$1bn), said a press release issued by the Fund.
In the current fiscal year, SBP-held reserves have increased by $144.1m or 1.53%.
Meanwhile, the current calendar year has seen an increase of $1.31bn or 15.96%.
| Foreign reserves held by | September 20, 2024 | September 13, 2024 | Change | % Change |
|---|---|---|---|---|
| State Bank of Pakistan | 9,533.6 | 9,509.6 | 24.0 | 0.25% |
| Net Foreign Reserves Held by Banks | 5,339.5 | 5,316.9 | 22.6 | 0.43% |
| Total Liquid Foreign Reserves | 14,873.1 | 14,826.5 | 46.6 | 0.31% |
Amount in USD Million
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