Islamabad December 6 2024: The foreign reserves of State Bank of Pakistan crossed USD 12 billion supported by recent Asian Development Bank (ADB) loan transfer while country total reserves surged to USD 16.62 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 USD 620 million to USD 12,038.3 million. The increase is mainly on account of the official inflow of USD 500 million from ADB.”
The SBP has received USD 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 USD 4,581.7 million, it added.
Total liquid foreign reserves held by the country, in the previous week ended on November 22, 2024, were USD 16,076.2 million. Among them foreign reserves held by the central bank were recorded as USD 11,418.5 million while commercial banks held net reserves of USD 4,657.7 million.
