State Bank’s reserves surge $119m
MG News | August 15, 2024 at 06:37 PM GMT+05:00
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%.
| 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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