SBP reserves rise $75m to $9.1bn

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MG News | August 01, 2024 at 06:37 PM GMT+05:00

August 01, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $75 million or 0.83% WoW to $9.1 billion during the week ended on July 26, 2024, data released by State Bank of Pakistan showed on Thursday.

Similarly, the country's total reserves increased by $56.3m or 0.39% WoW to $14.39bn.

The reserves held by commercial banks fell by $18.7m or 0.35% WoW to $5.29bn.

In the current fiscal year, SBP-held reserves have decreased by $287.3m or 3.06%.

In a recent development, Pakistan has secured a $7 billion loan deal from the International Monetary Fund (IMF), subject to approval by the IMF’s Executive Board.

Meanwhile, the current calendar year has seen an increase of $881m or 10.72%.

Summary of Holding and Weekly Change

Foreign reserves held by July 26, 2024 July 19, 2024 Change % Change
State Bank of Pakistan 9,102.2 9,027.2 75.0 0.83%
Net Foreign Reserves Held by Banks 5,289.5 5,308.2 -18.7 -0.35%
Total Liquid Foreign Reserves 14,391.7 14,335.4 56.3 0.39%

Amount in USD Million

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