Daily Times

The total liquid foreign reserves of Pakistan reached at 27-month high level of US$ 15,982.9 million, mainly backed by the receipt of EFF program’s first tranche of over $ 1 billion from International Monetary Fund (IMF).

The State Bank of Pakistan held foreign reserves also surged to $ 10,701.7 million showing an increase of $ 1,168 million including the $ 1,026.9 million received under EFF program during the week ended on September 27, 2024, said a statement issued here on Thursday.

Meanwhile, net foreign reserves held by commercial banks were recorded as $ 5,281.2 million during the week under review, it added. In result of comprehensive and collaborative measures by the federal government as well as the central bank, the forex reserves of the country were not only stable above $ 14 billion since advent of the current financial year 2024-25 but showing a slow but steady upward momentum that has taken the total reserves near $15 billion in the previous week while IMF’s assistance surged them to a 27-month high level.

Earlier at end June 2022, the total liquid foreign exchange reserves held by the country were recorded as $16,195.6 million while $10,701.1 million is the highest level of liquid forex reserves of the SBP in 29 months since April 16, 2022 when SBP held reserves of $10,885.7 million. Total liquid foreign reserves held by the country, in the previous week ended on September 20, 2024, were $ 14,873.1 million. Among them foreign reserves held by the central bank were recorded as $ 9,533.6 million while $ 5,339.5 million were held by commercial banks.