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SBP-held foreign exchange reserves increase $17mn, now stand at $7.91bn

  • Total liquid foreign reserves held by the country reach $13.15 billion
Published March 14, 2024

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $17 million on a weekly basis, clocking in at $7.91 billion as of March 8, data released on Thursday showed.

Total liquid foreign reserves held by the country stood at $13.15 billion. Net foreign reserves held by commercial banks stood at $5.24 billion.

The central bank did not specify a reason for the increase in the reserves.

“During the week ended on 08-Mar-2024, SBP’s reserves increased by US$ 17 million to US$ 7,912.9 million,” it said.

Last week, Pakistan’s central bank reserves had decreased by $54 million.

Meanwhile, discussions between the Pakistani government and the International Monetary Fund (IMF) on the final review of the $3 billion Stand-By Arrangement (SBA) are expected to start from today.

Pakistan is to receive $1.1 billion as the last tranche of the SBA, provided a successful review by the IMF.

The inflow from the Bretton Woods institution will bring an uptick in the reserves and also prove to be a positive indicator for the country’s ailing economy.

Comments

200 characters
KU Mar 14, 2024 07:21pm
Meanwhile our neighbour exports automobiles worth $14 billion, machinery worth $13 billion, etc., we seem set on loans and trumpet our success without any cause.
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Ahmed Hassan Mar 14, 2024 09:23pm
i really need bike going to uni bcz difficult traveling on bus
thumb_up Recommended (0) reply Reply
Ahmed Hassan Mar 14, 2024 09:23pm
i need bike going to uni
thumb_up Recommended (0) reply Reply
Doc Asad Mar 14, 2024 10:00pm
Still less than the pocket money of ambani's child.
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