SBP’s reserves increase $17m to $7.91bn
MG News | March 14, 2024 at 05:41 PM GMT+05:00
March 14, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $17.2 million or 0.22% WoW to $7.91 billion during the week ended on March 08, 2024, according to the data released by the central bank on Thursday.
Similarly, the country's total reserves rose by $131.3m or 1.01% WoW to $13.15bn.
The reserves held by commercial banks rose by $114.1m or 2.23% WoW to $5.24bn.
In a recent developmet, the second review of Stand-By Arrangement (SBA) with International Monetary Fund (IMF) is scheduled from March 14 to 18, 2024.
This would be final review of SBA, and once Staff level agreement is reached, final tranche of $1.1bn will be disbursed, following the approval of Executive Board of IMF.
To note, in the current fiscal year, total liquid foreign reserves have increased by $3.99bn or 43.57%.
Meanwhile, the current calendar year has seen an increase of $0.48bn or 3.77%.
| Foreign reserves held by | March 08, 2024 | March 01, 2024 | Change | % Change |
|---|---|---|---|---|
| State Bank of Pakistan | 7912.9 | 7895.7 | 17.20 | 0.22% |
| Net Foreign Reserves Held by Banks | 5238.4 | 5124.3 | 114.1 | 2.23% |
| Total Liquid Foreign Reserves | 13151.3 | 13020 | 131.3 | 1.01% |
Amount in USD Million
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