IMF tranche boosts Pakistan's foreign exchange reserves

KARACHI: Pakistan’s total foreign exchange reserves reached US$ 15.98 billion during the week ended on 27th September after receiving the International Monetary Fund (IMF) tranche, ARY News reported.

In a statement, the State Bank of Pakistan (SBP) said that the increase in reserves is mainly due to the receipt of US$ 1,026.9 million from IMF under EFF program.

“During the week ended on 27-Sep-2024, SBP reserves increased by US$ 1,168 million to US$ 10,701.7 million,” the statement added.

Meanwhile, Pakistan’s net foreign reserves held by commercial banks stood at US$ 5.28 billion.

Earlier, it was reported that Pakistan’s total foreign exchange reserves stood at US$ 14. 87 billion during the week ended on 20th September 2024.

According to a statement issued by the central bank, Pakistan’s reserves held by the SBP increased by US$ 24 million to US$ 9.53 billion during the period.

The country’s net foreign reserves held by commercial banks stood at US$5.33 billion during the period.

“During the week ended on 20-Sep-2024, SBP reserves increased by US$ 24 million to US$ 9,533.6 million,” the statement added.