State Bank’s reserves surge $119m

By MG News | August 15, 2024 at 06:37 PM GMT+05:00

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August 15, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $119.3 million or 1.30% WoW to $9.27 billion during the week ended on August 09, 2024, data released by State Bank of Pakistan showed on Thursday.

Similarly, the country's total reserves increased by $173.3m or 1.20% WoW to $14.65bn.

The reserves held by commercial banks rose by $54m or 1.02% WoW to $5.37bn.

In the current fiscal year, SBP-held reserves have decreased by $116.9m or 1.25%.

In a recent development, Pakistan has secured a $7 billion loan deal from the International Monetary Fund (IMF), subject to approval by the IMF’s Executive Board.

Meanwhile, the current calendar year has seen an increase of $1.05bn or 12.79%.

**Summary of Holding and Weekly Change**
Foreign reserves held by	August 09, 2024	August 02, 2024	Change	% Change
State Bank of Pakistan	9,272.6	9,153.3	119.3	1.30%
Net Foreign Reserves Held by Banks	5,372.6	5,318.6	54.0	1.02%
Total Liquid Foreign Reserves	14,645.2	14,471.9	173.3	1.20%

Amount in USD Million

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