Pakistan's forex reserves swell over $9bn on IMF inflow

KARACHI: The country's foreign exchange reserves held by the State Bank of Pakistan (SBP) have increased to $9.12 billion after the disbursement of the last tranche of $1.1bn loan from the International Monetary Fund (IMF) under the short-term deal.

According to the central bank's statement on Thursday, the current position of the country’s liquid foreign reserves after IMF inflow is depicted in the week ending May 3.

The net foreign reserves held by commercial banks stood at $5.3bn, bringing the country's total forex reserves to $14.45bn  -- a nearly two-year high which was last recorded above $9 billion in mid-July 2022.

The SBP reserves increased by $1.114bn to $9.1203bn "mainly due to receipt of $1.1bn from the global lender as final tranche" under the loan programme, the statement added.