Inflows from multilateral agencies boost SBP reserves to over $9 billion M Haris

Pakistan’s total liquid foreign reserves recorded $14.573 billion while the foreign reserves held by the State Bank of Pakistan (SBP) stood at $ 9.38 billion for the week ended on June 28, 2024.

“The SBP reserves increased by $494 million to $ 9.389 billion due to official inflows from multilateral agencies,” a statement issued by the central bank informed. 

Net foreign reserves held by commercial banks were recorded as $ 5.183 billion, during the week ended on June 28, 2024.

SBP’s data shows that Pakistan’s foreign exchange position has improved with an increase of over $5 billion during the just-ended fiscal year 2023-24 mainly due to inflows from the global financial and multilateral agencies.

According to SBP, the country’s total liquid foreign exchange reserves rose to $14.573 billion mark as of June 28, 2024 compared to $9.160 billion as of June 28, 2023, showing an increase of $ 5.413 billion in FY24.

Total liquid foreign reserves held by the country, in the previous week ended on June 21, 2024, were $ 14.2 billion. Among them, foreign reserves held by the central bank were $8.89 billion while $5.31 billion were held by commercial banks.