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

2025 Recap

Govt eliminates Rs3.4tr power sector burden

Pakistan, Saudi Arabia reaffirm strong bilateral ties

Name	Price/Vol	%Chg/NChg
KSE100	176,355.49 799.09M	1.32% 2301.17
ALLSHR	106,095.08 1,399.85M	1.42% 1480.57
KSE30	54,010.33 172.85M	1.33% 707.40
KMI30	250,685.98 166.33M	0.86% 2146.75
KMIALLSHR	68,659.48 915.21M	1.16% 786.70
BKTi	49,612.52 72.87M	2.53% 1222.09
OGTi	35,256.55 17.79M	1.06% 368.14

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	88,955.00	89,200.00 88,720.00	1070.00 1.22%
BRENT CRUDE	60.91	61.92 60.63	-0.42 -0.68%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	0.65 0.75%
ROTTERDAM COAL MONTHLY	96.75	0.00 0.00	0.20 0.21%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	57.55	57.57 57.41	0.13 0.23%
SUGAR #11 WORLD	14.95	15.22 14.80	0.11 0.74%