SBP reserves rise $75m to $9.1bn

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

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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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