SBP reserves rose by $20.6m in a week

News Image

MG News | December 14, 2023 at 06:28 PM GMT+05:00

0:00

December 14, 2023 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $20.6 million or 0.29% WoW to $7.04 billion during the week ended on December 08, 2023, according to the data released by the central bank on Thursday.

Similarly, the country's total reserves rose by $99.3m or 0.82% WoW to $12.21bn.

The reserves held by commercial banks rose by $78.7m or 1.55% WoW to $5.17bn.

In a recent development, Pakistan secured initial approval from the International Monetary Fund (IMF) for the release of the next loan tranche under the current $3bn loan program.

Pending approval by the IMF's Executive Board, the agreement will grant Pakistan access to SDR 528m, which is around $700m.

To note, towards the end of FY23, the IMF being a last resort saved Pakistan from a sovereign debt default with a $3bn Stand-by Arrangement (SBA).

The initial disbursement of $1.2bn from the IMF, alongside $3bn bilateral inflows from the Arab countries gave a substantial boost to the depleting foreign reserves held by the country.

Consequently, in the current fiscal year, total liquid foreign reserves have increased by $3.05bn or 33.26%.

However, ever since the boost from the IMF and the Arab countries, fresh inflows seem to have dried up, with the total reserves slowly depleting almost every week.

Meanwhile, the current calendar year has seen an increase of $1.36bn or 12.55%.

Summary of Holding and Weekly Change

Foreign reserves held by December 08, 2023 December 01, 2023 Change % Change
State Bank of Pakistan 7040.8 7020.2 20.60 0.29%
Net Foreign Reserves Held by Banks 5165.6 5086.9 78.7 1.55%
Total Liquid Foreign Reserves 12206.4 12107.1 99.3 0.82%

Amount in USD Million

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 139,719.99
196.76M
0.94%
1307.74
ALLSHR 86,553.95
357.99M
0.99%
850.99
KSE30 42,703.10
81.47M
1.06%
448.25
KMI30 196,913.72
82.72M
1.44%
2804.13
KMIALLSHR 57,446.01
153.86M
1.29%
732.34
BKTi 37,955.51
13.43M
0.33%
124.17
OGTi 28,353.05
35.55M
3.33%
912.41
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 119,490.00 119,785.00
117,905.00
1870.00
1.59%
BRENT CRUDE 72.55 72.82
72.16
-0.69
-0.94%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 70.19 70.41
69.80
0.19
0.27%
SUGAR #11 WORLD 16.49 16.52
16.45
0.04
0.24%

Chart of the Day


Latest News
July 31, 2025 at 12:51 PM GMT+05:00

KIBOR jumps after SBP holds policy rate steady


July 31, 2025 at 12:06 PM GMT+05:00

Crescent Star Insurance resumes 'Guarantee Business'


July 31, 2025 at 12:01 PM GMT+05:00

Bawany Air Products back on PSX Normal Counter


July 31, 2025 at 11:20 AM GMT+05:00

Sitara Peroxide narrows annual loss by 77%



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg