SBP reserves surge $620m on ADB loan proceeds

MG News | December 05, 2024 at 07:59 PM GMT+05:00

0:00

December 05, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) surged by $619.8 million or 5.43% WoW to $12.04 billion during the week ended on November 29, 2024, data released by State Bank of Pakistan showed on Thursday.

The rise in reserves is attributed to the proceeds from the Asian Development Bank (ADB) for Climate Change and Disaster Resilience Enhancement Program (CDREP).

As a result, the country's FX reserves have climbed to the highest level since March 2022.

Similarly, the country's total reserves increased by $543.8m or 3.38% WoW to $16.62bn.

The reserves held by commercial banks fell by $76m or 1.63% WoW to $4.58bn.

In the current fiscal year, SBP-held reserves have increased by $2.65bn or 28.21%.

Meanwhile, the current calendar year has seen an increase of $3.82bn or 46.43%.

**Summary of Holding and Weekly Change**
Foreign reserves held by	November 29, 2024	November 22, 2024	Change	% Change
State Bank of Pakistan	12,038.3	11,418.5	619.8	5.43%
Net Foreign Reserves Held by Banks	4,581.7	4,657.7	-76.0	-1.63%
Total Liquid Foreign Reserves	16,620.0	16,076.2	543.8	3.38%

Amount in USD Million

Copyright Mettis Link News

Related News

Moody's upgrades Pakistan rating

IMF visit next month could unlock $1bn for Pakistan

Pakistan, Azerbaijan cultural ties gain momentum with new initiatives

Name	Price/Vol	%Chg/NChg
KSE100	146,529.31 298.88M	-0.32% -476.02
ALLSHR	90,649.25 645.24M	-0.13% -120.81
KSE30	44,855.41 127.01M	-0.35% -156.33
KMI30	208,066.95 107.55M	-0.47% -973.43
KMIALLSHR	60,419.98 382.07M	-0.25% -150.87
BKTi	41,101.09 38.49M	0.35% 145.35
OGTi	30,764.81 26.70M	-1.30% -406.47

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	118,550.00	118,565.00 118,130.00	135.00 0.11%
BRENT CRUDE	66.89	66.99 65.55	1.26 1.92%
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	63.90	63.96 63.81	-0.06 -0.09%
SUGAR #11 WORLD	16.58	16.85 16.51	-0.27 -1.60%