SBP reserves rose by $77m in a week

MG News | November 30, 2023 at 06:55 PM GMT+05:00

0:00

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%.

**Summary of Holding and Weekly Change**
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

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%