Pakistan's total liquid foreign reserves saw a significant increase, reaching US$ 14,458.9 million by the end of the week on May 3, 2024.
The State Bank of Pakistan (SBP) held foreign reserves totaling $9,120.3 million during the same period. This notable rise in the central bank's reserves, amounting to $1,114 million, was primarily attributed to the receipt of $1.1 billion from the International Monetary Fund (IMF) as the final tranche under the Stand-By Arrangement (SBA) program.
Furthermore, the net foreign reserves held by commercial banks were reported at $5,338.6 million. This marks the highest level of Pakistan's total liquid foreign reserves in seven months, dating back to September 2, 2022, when the reserves stood at $14,473.5 million, with the central bank holding $8,799.9 million.
For the State Bank of Pakistan specifically, this level of reserves represents the highest in nine months, with reserves totaling $9,328.6 million on July 15, 2024, while the country's total foreign reserves amounted to $15,241.5 million.
Comparatively, in the previous week ending April 26, 2024, the total liquid foreign reserves of the country were reported at $13,316 million, with the central bank holding $8,006 million, and net foreign reserves held by commercial banks amounting to $5,310 million.
