{"id":97101,"date":"2024-05-10T15:57:53","date_gmt":"2024-05-10T10:57:53","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=97101"},"modified":"2024-05-10T16:07:00","modified_gmt":"2024-05-10T11:07:00","slug":"pak-foreign-exchange-reserves-surge-may-2024","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pak-foreign-exchange-reserves-surge-may-2024.html","title":{"rendered":"Foreign exchange reserves surge to 2-yr high, boosted by IMF inflow"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The State Bank of Pakistan (SBP) reported a notable surge in its foreign exchange reserves, marking an increase of $1.114 billion over the course of one week, reaching $9.12 billion by May 3, according to data released on Thursday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In total, the liquid foreign reserves of Pakistan amounted to $14.46 billion, with commercial banks holding $5.34 billion in net foreign reserves.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This boost brings the SBP&#8217;s reserves to their highest level in nearly two years, surpassing the $9 billion mark last recorded on July 15, 2022.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-maintains-interests-rate-amidst-inflation.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP maintains 22% interest rate, adjusts inflation projection<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The central bank attributed this significant rise to a $1.1 billion inflow from the International Monetary Fund (IMF), which constituted the final instalment of the $3 billion Stand-By Arrangement (SBA).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In a statement, the central bank highlighted, &#8220;During the week ending on May 3, 2024, SBP reserves increased by US$ 1,114 million to US$ 9,120.3 million mainly due to receipt of US$1.1 billion from IMF as the final tranche under the SBA program.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This follows a $25 million increase in Pakistan&#8217;s central bank reserves reported last week.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/pak-meets-imf-set-targets-ahead-schedule.html\" target=\"_blank\" rel=\"noreferrer noopener\">PAK meets IMF\u2019s targets early, reports Finance Ministry<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The final tranche of $1.1 billion from the IMF was received on April 30, following approval by the IMF&#8217;s Executive Board. The SBP had previously indicated that this amount would reflect in its foreign exchange reserves for the week ending on May 3, 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The State Bank of Pakistan (SBP) reported a notable surge in its foreign exchange reserves, marking an increase of $1.114 billion over the course of one week, reaching $9.12 billion by May 3, according to data released on Thursday. In total, the liquid foreign reserves of Pakistan amounted to $14.46 billion, with commercial banks holding $5.34 billion in net foreign reserves. This boost brings the SBP&#8217;s reserves to their highest level in nearly two years, surpassing the $9 billion mark last recorded on July 15, 2022. Read: SBP maintains 22% interest rate, adjusts inflation projection The central bank attributed this significant rise to a $1.1 billion inflow from the International Monetary Fund (IMF), which constituted the final instalment of the $3 billion Stand-By Arrangement (SBA). In a statement, the central bank highlighted, &#8220;During the week ending on May 3, 2024, SBP reserves increased by US$ 1,114 million to US$ 9,120.3 million mainly due to receipt of US$1.1 billion from IMF as the final tranche under the SBA program.&#8221; This follows a $25 million increase in Pakistan&#8217;s central bank reserves reported last week. Read: PAK meets IMF\u2019s targets early, reports Finance Ministry The final tranche of $1.1 billion from the IMF&hellip;<\/p>\n","protected":false},"author":89,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[11728,57280,6066],"persona":[],"class_list":["post-97101","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-developments","tag-imf","tag-latest-news","tag-sbp","cat-15016-id"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pak Foreign Exchange Reserves Surge to 2-Yr High<\/title>\n<meta name=\"description\" content=\"The central bank attributed this significant rise to a $1.1 billion inflow from the International Monetary Fund (IMF)...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/pak-foreign-exchange-reserves-surge-may-2024.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pak Foreign Exchange Reserves Surge to 2-Yr High\" \/>\n<meta property=\"og:description\" content=\"The central bank attributed this significant rise to a $1.1 billion inflow from the International Monetary Fund (IMF)...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/pak-foreign-exchange-reserves-surge-may-2024.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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