SBP Reserves Cross $8 Billion, Yet to Reflect $1.1 Billion IMF Loan

The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $25 million on a weekly basis according to data issued by the central bank on Thursday. On April 26, the foreign currency reserves held by the SBP were recorded at $8.006 billion, up $25 million compared to $7.981 billion on April 19. Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $13.316 billion, up $36 million over the previous week. The net reserves held by banks stood at $5.310 billion, registering an increase of $11 million during the week. It is pertinent to mention here that earlier this week, the central bank received the third and final tranche of $1.1 billion from the International Monetary Fund (IMF) under the $3 billion Stand-By Arrangement (SBA). The inflow, received on April 30, is not reflected in the latest reserves update issued by the SBP. The next update is likely to see reserves near the $9 billion mark.