SBP reserves rose by $20.6m in a week

News Image

By 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 130,686.66
280.01M
0.26%
342.63
ALLSHR 81,305.25
897.01M
0.35%
281.26
KSE30 39,945.45
114.02M
0.09%
37.19
KMI30 190,698.05
148.61M
0.61%
1163.05
KMIALLSHR 55,074.15
495.43M
0.53%
290.50
BKTi 34,568.40
28.73M
-1.07%
-372.33
OGTi 28,739.35
22.59M
1.57%
443.29
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 110,215.00 110,965.00
109,200.00
-70.00
-0.06%
BRENT CRUDE 68.85 69.14
68.32
-0.26
-0.38%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
-0.75
-0.76%
ROTTERDAM COAL MONTHLY 109.15 109.80
109.15
0.15
0.14%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.24 67.58
66.65
-0.21
-0.31%
SUGAR #11 WORLD 16.16 16.20
15.44
0.58
3.72%

Chart of the Day


Latest News
July 03, 2025 at 05:39 PM GMT+05:00

Gold price in Pakistan rises Rs800 per tola


July 03, 2025 at 05:17 PM GMT+05:00

Microsoft exits Pakistan after 25 years


July 03, 2025 at 04:43 PM GMT+05:00

Privatisation Commission approves advisors for ZTBL


July 03, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: Holding Ground


July 03, 2025 at 04:00 PM GMT+05:00

PKR strengthens 9 paisa against USD



Top 5 things to watch in this week

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