SBP releases latest figures on Pakistan's foreign reserves

10:58 PM | 23 May, 2024
SBP releases latest figures on Pakistan's foreign reserves
Source: File photo

The State Bank of Pakistan (SBP) has reported a slight increase in the country's total liquid foreign reserves, reaching $14,585.4 million for the week ending May 17.

On Thursday, the SBP announced that its foreign reserves saw a modest rise of $22 million, bringing the total to $9,157 million.

During the same period, the net foreign reserves held by commercial banks amounted to $5,428.4 million. This slight growth indicates a stable financial outlook for the country.

For comparison, in the previous week ending May 10, the total liquid foreign reserves were $14,626.4 million, with the SBP holding $9,135.5 million and commercial banks holding $5,490.9 million.

In Jan 2023, Pakistan's foreign exchange reserves held by the central bank decreased by 16.1% to $3.09 billion in the week ending Jan. 27, the State Bank of Pakistan (SBP) said, which analysts said covers less than three weeks of imports.

At that time, Pakistan was locked in negotiations with the International Monetary Fund (IMF) to release much-needed money under a stalled bailout programme. A successful outcome with the IMF helped to release money from other platforms that were looking for a greenlight from the lender.

Daily Pakistan Global Web Desk


Currency Rates in Pakistan - PKR to US Dollar, Euro, Pound, Dirham, Riyal - 21 June 2024

Pakistani rupee rates against US Dollar and other currencies on June 21, 2024 (Friday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.6 for buying and 280.75 for selling.

Euro's buying rate stands at 297 and selling rate is 299.5 while British Pound rate is 350.5 for buying, and 354 for selling.

UAE Dirham AED was at 74.80 and Saudi Riyal at 72.75.

Forex Rates

Currency Symbol Buying Selling
US Dollar USD 277.6 280.75
Euro EUR 297  299.5 
UK Pound Sterling GBP 350.5  354 
U.A.E Dirham AED 74.80  75.6
Saudi Riyal SAR 72.75 73.5
Australian Dollar AUD 181.2 183
Bahrain Dinar BHD 740.91 749.18
Canadian Dollar CAD 203.5 205.5
China Yuan CNY 38.4 38.8
Danish Krone DKK 40.11 40.51
Hong Kong Dollar HKD 35.68 36.03
Indian Rupee INR 3.34 3.45
Japanese Yen JPY 1.9 1.98
Kuwaiti Dinar KWD 907.62 916.62
Malaysian Ringgit MYR 59.07 59.67
New Zealand Dollar NZD 170.98 172.98
Norwegians Krone NOK 28.83 29.13
Omani Riyal OMR 723.62 731.62
Qatari Riyal QAR 76.53 77.23
Singapore Dollar SGD 202 204
Swedish Korona SEK 26.68 26.98
Swiss Franc CHF 315.08 317.58
Thai Bhat THB 7.59 7.74


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