SBP reserves rose by $77m in a week

MG News | November 30, 2023 at 06:55 PM GMT+05:00
November 30, 2023 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $77 million or 1.07% WoW to $7.26 billion during the week ended on November 24, 2023, according to the data released by the central bank on Thursday.
Similarly, the country's total reserves rose by $90.5m or 0.74% WoW to $12.39bn.
The reserves held by commercial banks rose by $13.5m or 0.26% WoW to $5.14bn.
In a recent development, Pakistan has 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 $3.23bn or 35.29%.
Meanwhile, the current calendar year has seen an increase of $1.55bn or 14.27%.
Foreign reserves held by | November 24, 2023 | November 17, 2023 | Change | % Change |
---|---|---|---|---|
State Bank of Pakistan | 7257 | 7180 | 77.00 | 1.07% |
Net Foreign Reserves Held by Banks | 5135.8 | 5122.3 | 13.5 | 0.26% |
Total Liquid Foreign Reserves | 12392.8 | 12302.3 | 90.5 | 0.74% |
Amount in USD Million
Copyright Mettis Link News
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 167,659.24 601.70M | 0.85% 1416.34 |
ALLSHR | 101,800.18 931.21M | 0.66% 667.36 |
KSE30 | 51,280.94 140.12M | 0.77% 394.33 |
KMI30 | 242,199.83 69.95M | 0.45% 1083.18 |
KMIALLSHR | 66,897.32 592.81M | 0.57% 377.88 |
BKTi | 48,340.04 90.09M | 1.32% 628.97 |
OGTi | 32,684.13 10.87M | 0.82% 265.52 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 108,270.00 | 111,160.00 107,705.00 | -2805.00 -2.53% |
BRENT CRUDE | 61.14 | 61.20 60.58 | 0.13 0.21% |
RICHARDS BAY COAL MONTHLY | 80.50 | 0.00 0.00 | -1.50 -1.83% |
ROTTERDAM COAL MONTHLY | 92.75 | 92.75 92.75 | -0.25 -0.27% |
USD RBD PALM OLEIN | 1,085.00 | 1,085.00 1,085.00 | 0.00 0.00% |
CRUDE OIL - WTI | 57.14 | 57.20 56.60 | 0.12 0.21% |
SUGAR #11 WORLD | 15.77 | 15.78 15.51 | 0.27 1.74% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|