SBP reserves rise by $24.8m in a week

MG News | May 02, 2024 at 06:54 PM GMT+05:00
May 02, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $24.8 million or 0.31% WoW to $8.01 billion during the week ended on April 26, 2024, according to the data released by the central bank on Thursday.
Similarly, the country's total reserves rose by $35.5m or 0.27% WoW to $13.32bn.
The reserves held by commercial banks rose by $10.7m or 0.2% WoW to $5.31bn.
In a recent development, SBP has received the final installment of SDR 528 million, equivalent to around $1.1bn from the International Monetary Fund (IMF).
This disbursement will be reflected in SBP reserves for the week ending on May 03, 2024.
To note, Pakistan’s 9-month SBA, approved by the Executive Board on July 12, 2023, successfully provided a policy anchor to address domestic and external imbalances and a framework for financial support from multilateral and bilateral partners.
Accordingly, in the current fiscal year, total liquid foreign reserves have increased by $4.16bn or 45.37%.
Meanwhile, the current calendar year has seen an increase of $0.64bn or 5.07%.
Foreign reserves held by | April 26, 2024 | April 19, 2024 | Change | % Change |
---|---|---|---|---|
State Bank of Pakistan | 8006 | 7981.2 | 24.8 | 0.31% |
Net Foreign Reserves Held by Banks | 5310 | 5299.3 | 10.7 | 0.20% |
Total Liquid Foreign Reserves | 13316 | 13280.5 | 35.5 | 0.27% |
Amount in USD Million
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