SBP reserves rise by $15.2m in a week

MG News | May 16, 2024 at 07:35 PM GMT+05:00

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May 16, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $15.2 million or 0.17% WoW to $9.14 billion during the week ended on May 10, 2024, according to the data released by the central bank on Thursday.

The central bank did not specify a reason for the increase.

"During the week ended on May 10, 2024, SBP reserves increased by $15m to $ 9.14bn", said a statement issued by SBP.

Similarly, the country's total reserves rose by $167.5m or 1.16% WoW to $14.63bn.

The reserves held by commercial banks rose by $152.3m or 2.85% WoW to $5.49bn.

In the current fiscal year, total liquid foreign reserves have increased by $5.47bn or 59.68%.

Meanwhile, the current calendar year has seen an increase of $1.95bn or 15.41%.

**Summary of Holding and Weekly Change**
Foreign reserves held by	May 10, 2024	May 03, 2024	Change	% Change
State Bank of Pakistan	9135.5	9120.3	15.2	0.17%
Net Foreign Reserves Held by Banks	5490.9	5338.6	152.3	2.85%
Total Liquid Foreign Reserves	14626.4	14458.9	167.5	1.16%

Amount in USD Million

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