Pakistan’s foreign reserves surge over $ 14.45 billion

The total liquid foreign reserves of Pakistan increased to US$ 14,458.9 million while foreign reserves held by the State Bank of Pakistan stood at $ 9,120.3 million in the week ended on May 03, 2024.

The SBP, in a statement issued here on Thursday, informed, “foreign reserves held by the central bank increased by $ 1,114 million to $ 9,120.3 million mainly due to receipt of $1.1 billion from IMF as final tranche under SBA program,” during the week under review.

Meanwhile, net foreign reserves held by commercial banks were recorded $ 5,338.6 million, it added. It is the highest level of country’s total liquid foreign reserves in seven months, since 2 September 2022 when the total reserves stood at $14473.5 million while the central bank held $ 8799.9 million.

In context of the central bank, it was highest level in 9 months. SBP held reserves of $ 9328.6 million on July 15, 2024 while total foreign reserves of the country stood at $ 15,241.5 million.

Total liquid foreign reserves held by the country, in the previous week ended on April 26, 2024, were $ 13,316 million. Among them foreign reserves held by the central bank were $ 8,006 million while net foreign reserves held by commercial banks were $ 5,310 million.