SBP reserves surge to $10.7bn after IMF tranche
MG News | October 03, 2024 at 06:47 PM GMT+05:00
October 03, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) surged by $1.17 billion or 12.25% WoW to $10.7 billion during the week ended on September 27, 2024, data released by State Bank of Pakistan showed.
The increase in SBP’s reserves is mainly due to receipt of $1.03bn from the International Monetary Fund (IMF) under EFF program. The central bank's reserves are now at their highest since April 2022.
The country's total reserves increased by $1.11bn or 7.46% WoW to $15.98bn. While the reserves held by commercial banks fell $58.3m or 1.09% WoW to $5.28bn.
In the current fiscal year, SBP-held reserves have increased by $1.31bn or 13.98%.
Meanwhile, the current calendar year has seen an increase of $2.48bn or 30.17%.
| Foreign reserves held by | September 27, 2024 | September 20, 2024 | Change | % Change |
|---|---|---|---|---|
| State Bank of Pakistan | 10,701.7 | 9,533.6 | 1,168.1 | 12.25% |
| Net Foreign Reserves Held by Banks | 5,281.2 | 5,339.5 | -58.3 | -1.09% |
| Total Liquid Foreign Reserves | 15,982.9 | 14,873.1 | 1,109.8 | 7.46% |
Amount in USD Million
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