SBP reserves rise $494m to $9.39bn

MG News | July 04, 2024 at 06:33 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

July 04, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $493.7 million or 5.55% WoW to $9.39 billion during the week ended on June 28, 2024, data released by State Bank of Pakistan showed on Thursday.

The central bank cited official inflows from multilateral agencies as the reason for this increase.

"During the week ended on June 28, 2024, SBP reserves increased by $494m due to official inflows from multilateral agencies," it said in a statement.

Similarly, the country's total reserves increased by $365.7m or 2.57% WoW to $14.57bn.

Meanwhile, the reserves held by commercial banks fell by $128m or 2.41% WoW to $5.18bn.

In the fiscal year 2023-24, SBP-held reserves increased by $4.92bn or 110%.

This significant boost came after the country secured the International Monetary Fund’s (IMF) Stand-By Arrangement (SBA) of about $3bn by end-June last year, which also helped unlock multilateral and bilateral funding.

Summary of Holding and Weekly Change

Foreign reserves held by	June 28, 2024	June 21, 2024	Change	% Change
State Bank of Pakistan	9,389.5	8,895.8	493.7	5.55%
Net Foreign Reserves Held by Banks	5,183.5	5,311.5	-128.0	-2.41%
Total Liquid Foreign Reserves	14,573.0	14,207.3	365.7	2.57%

Amount in USD Million

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	181,310.28 434.73M	-0.07% -119.74
ALLSHR	109,402.32 910.03M	0.21% 233.65
KSE30	54,005.86 184.89M	-0.47% -257.39
KMI30	255,725.19 167.56M	0.03% 73.46
KMIALLSHR	70,216.28 547.59M	0.32% 225.24
BKTi	52,240.23 69.77M	0.07% 34.26
OGTi	35,793.26 17.01M	1.22% 429.81

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	65,210.00	65,700.00 64,965.00	35.00 0.05%
BRENT CRUDE	84.65	85.14 83.33	1.10 1.32%
RICHARDS BAY COAL MONTHLY	105.50	0.00 0.00	-0.90 -0.85%
ROTTERDAM COAL MONTHLY	116.25	0.00 0.00	-0.50 -0.43%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	79.27	79.60 77.79	1.09 1.39%
SUGAR #11 WORLD	16.42	16.50 16.29	-0.03 -0.18%