SBP reserves surge by $111.6m in a week

MG News | August 29, 2024 at 06:08 PM GMT+05:00

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August 29, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $111.6 million or 1.2% WoW to $9.4 billion during the week ended on August 23, 2024, data released by State Bank of Pakistan showed on Thursday.

Similarly, the country's total reserves increased by $108.9m or 0.74% WoW to $14.78bn.

The reserves held by commercial banks, on the other hand, dropped by $2.7m or 0.05% WoW to $5.37bn.

In the current fiscal year, SBP-held reserves have increased by $13.8m or 0.15%.

Meanwhile, the current calendar year has seen an increase of $1.17bn or 14.21%.

**Summary of Holding and Weekly Change**
Foreign reserves held by	August 23, 2024	August 16, 2024	Change	% Change
State Bank of Pakistan	9,403.4	9,291.8	111.9	1.2%
Net Foreign Reserves Held by Banks	5,372.9	5,375.6	-2.7	-0.05%
Total Liquid Foreign Reserves	14,776.3	14,667.4	22.2	0.74%

Amount in USD Million

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