The total liquid foreign currency reserves held by the central bank rose by 1.37 percent week over week, according to data released by the State Bank of Pakistan (SBP) on Thursday.
On March 19, 2021, the foreign currency reserves held by the SBP were recorded at $13,295 million, up $275 million compared with $13,019.7 million on March 12, 2021
SBP has given no explanation for the reserves inching up.
— SBP (@StateBank_Pak) March 25, 2021
The net reserves with other banks remained at the same level as the last week, with only a moderate increase of $0.2 million, from $7,139.4 million on March 12 to $7,139.6 on March 19.
Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,434.6 million, higher by the same amount as net reserves with the SBP, up from $20,159 million the week before.
Total Liquid Foreign Exchange Reserves Rise by 1.37% WoW
Net reserves with @StateBank_Pak appreciated by US$ 275 mn on weekly basis, while net #reserves with Banks inched up by US$ 1mn.#Pakistan #KSE100 #economy #SBP #Dollar pic.twitter.com/K4bd8y7sn4
— Capital Stake (@CapitalStake) March 25, 2021
With Pakistan expecting to receive the $500 million loan tranche from the International Monetary Fund (IMF) in the near future, the SBP reserves are also likely to jump in the coming days.