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Mettis Global News
Mettis Global News

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

SBP reserves rise $29m to $11.29bn

SBP reserves rise $12.5m to $12.05bn
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November 21, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $29.4 million or 0.26% WoW to $11.29 billion during the week ended on November 15, 2024, data released by State Bank of Pakistan showed on Thursday.

The country's total reserves inched up by $2.2m or 0.01% WoW to $15.97bn.

That was because the reserves held by commercial banks fell by $27.2m or 0.58% WoW to $4.68bn.

In the current fiscal year, SBP-held reserves have increased by $1.9bn or 20.22%.

Meanwhile, the current calendar year has seen an increase of $3.07bn or 37.3%.

Summary of Holding and Weekly Change

Foreign reserves held by November 15, 2024 November 08, 2024 Change % Change
State Bank of Pakistan 11,288.0 11,258.6 29.4 0.26%
Net Foreign Reserves Held by Banks 4,679.7 4,706.9 -27.2 -0.58%
Total Liquid Foreign Reserves 15,967.7 15,965.5 2.2 0.01%

Amount in USD Million

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Posted on: 2024-11-21T18:41:14+05:00