Pakistan's Total Liquid Foreign Reserves Surge To $ 16.62 Billion

Sumaira FH Published December 05, 2024 | 10:28 PM

The total liquid foreign reserves of Pakistan surged to US$ 16.62 billion supported by recent Asian Development Bank (ADB) loan transfer while the SBP reserves crossed $ 12 billion as of November 29, 2024

KARACHI, (UrduPoint / Pakistan Point News - 5th Dec, 2024) The total liquid foreign reserves of Pakistan surged to US$ 16.62 billion supported by recent Asian Development Bank (ADB) loan transfer while the SBP reserves crossed $ 12 billion as of November 29, 2024.

The State Bank of Pakistan, informed in a statement issued here on Thursday, that total liquid foreign exchange reserves held by the central bank, “increased by US$ 620 million to US$ 12,038.3 million. The increase is mainly on account of the official inflow of US$500 million from ADB.”

The SBP has received $500 million from Asian Development Bank (ADB) for Climate Change and Disaster Resilience Enhancement Program (CDREP) as a policy-based loan to support disaster risk reduction and resilience in Pakistan.

The net foreign reserves held by commercial banks during the week under review were recorded as $ 4,581.7 million, it added.

Total liquid foreign reserves held by the country, in the previous week ended on November 22, 2024, were $ 16,076.2 million. Among them foreign reserves held by the central bank were recorded as $ 11,418.5 million while commercial banks held net reserves of $ 4,657.7 million.