Pakistan’s foreign exchange reserves stand at US$ 16.04bn: SPB

KARACHI: Pakistan’s total foreign exchange reserves stood at US$ 16. 04 billion during the week ended on 4th October 2024, ARY News reported citing the State Bank of Pakistan (SBP).

According to a statement issued by the central bank, Pakistan’s reserves held by the SBP increased by US$ 106 million to US$ 10.8 billion during the period.

Meanwhile, the country’s net foreign reserves held by commercial banks stood at US$5.23 billion.

“During the week ended on 04-Oct-2024, SBP reserves increased by US$ 106 million to US$ 10,808.0 million,” the statement added.

Earlier it was reported on October 3 that 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.

In a statement, the SBP said that the increase in reserves was mainly due to the receipt of US$ 1,026.9 million from the 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.

Pakistan’s net foreign reserves held by commercial banks stood at US$ 5.28 billion during the period.