SBP-held Foreign Exchange Reserves surged by 10.2% WoW to stand at $17.34bn

The foreign exchange reserves held by the central bank surged 10.23% on a weekly basis.

On February 4, the foreign currency reserves held by the SBP were recorded at $17,336.8 million, up $1,609 million compared with $15,727.6 million on January 28.

According to the central bank, the increase came due to the receipt of $1,053 million from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) programme and proceeds against Pakistan International Sukuk Bond issuance of $1,000 million.

“After accounting for external debt and other payments, SBP reserves increased by $1,609 million to $17,336.8 million,” it said.

Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $23,720.9 million. Net reserves held by banks amounted to $6,384.1 million.

spot_img

More like this

LSMI output surged by 5.8% YoY in April

In April 2024, Pakistan's Large-scale Manufacturing Industries (LSMI) production dropped sharply by 8.14%, down from 115.78 in...

SPI surged by 1.3% WoW

According to data released by the Pakistan Bureau of Statistics (PBS), the Weekly Sensitive Price Indicator (SPI)...

Pakistan Aims for reaching IMF Staff-Level Agreement in July:...

Finance Minister Muhammad Aurangzeb said Thursday the federal government was hopeful of reaching a staff-level agreement with...