SBP reserves surge above $11bn

MG News | October 17, 2024 at 06:43 PM GMT+05:00

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October 17, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) jumped further by $214.7 million or 1.99% WoW to $11.02 billion during the week ended on October 11, 2024, data released by State Bank of Pakistan showed on Thursday.

Similarly, the country's total reserves increased by $64.3m or 0.40% WoW to $16.11bn.

The reserves held by commercial banks fell by $150.4m or 2.87% WoW to $5.09bn.

In the current fiscal year, SBP-held reserves have increased by $1.63bn or 17.39%.

Meanwhile, the current calendar year has seen an increase of $2.8bn or 34.08%.

**Summary of Holding and Weekly Change**
Foreign reserves held by	October 11, 2024	October 04, 2024	Change	% Change
State Bank of Pakistan	11,022.7	10,808.0	214.7	1.99%
Net Foreign Reserves Held by Banks	5,088.6	5,239.0	-150.4	-2.87%
Total Liquid Foreign Reserves	16,111.3	16,047.0	64.3	0.40%

Amount in USD Million

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