SBP-held foreign exchange reserves increase $19m

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $19 million on a weekly basis, clocking in at around $8b as of March 29, data released on Thursday showed.

Total liquid foreign reserves held by the country stood at $13.38 billion. Net foreign reserves held by commercial banks stood at $5.34 billion.

“During the week ended on 29-Mar-2024, SBP’s reserves increased by $ 19 million to $ 8,040.4 million,” it said.

Last week, Pakistan’s central bank reserves increased by $4 million.

In four weeks, SBP reserves have increased by $145 million.

Last month, Pakistani authorities reached a staff-level agreement with the International Monetary Fund (IMF) on the second and final review of the $3 billion Stand-By Arrangement (SBA).