Karachi August 8 2024: The State Bank of Pakistan (SBP) reported that the total liquid foreign reserves of Pakistan rose to USD 14,472 million as of August 2, 2024. Of this, the central bank’s reserves stood at USD 9,153 million.
In a statement released on Thursday, the SBP noted that its reserves increased by USD 51 million during the week ending on August 2, 2024, bringing the total to USD 9,153 million. The bank also highlighted that expected financial inflows, including official flows under the IMF program, would help finance the current account deficit and further bolster foreign exchange reserves.
The import cover, based on the average imports over the past 12 months, is 1.73 months, while using the average imports over the last three months, the cover stands at 1.61 months.
Additionally, net foreign reserves held by commercial banks were recorded at USD 5,319 million during the week under review.
In the previous week, which ended on July 26, 2024, Pakistan’s total liquid foreign reserves were USD 14,392 million, with the central bank holding USD 9,102 million and commercial banks holding USD 5,290 million.
