KARACHI: Pakistan’s total liquid foreign exchange reserves reached $16,620 million as of November 29, 2024, including the net foreign reserves of $4,581.7 million held by the commercial banks.
Foreign reserves held by the central bank this year stood at $13,996.3, data released by the State Bank of Pakistan (SBP) revealed on Thursday.
During the last week, SBP’s reserves increased by $620 million to $12,038.3 million. The increase in SBP’s reserves is mainly due to the official inflow of $500 million from the Asian Development Bank (ADB).
The State Bank of Pakistan (SBP) reported that its reserves increased by $620 million during the week, climbing to $12,038.3 million, primarily due to an official inflow of $500 million from the Asian Development Bank (ADB).
Earlier last week, the SBP that it had received a $500 million loan from the Asian Development Bank.”This amount will be added to the foreign exchange hold next week. This amount is being given by the ADB to deal with the effects of climate change on Pakistan,” the statement from the central bank added.
Pakistan also adds upon its ongoing commitment to securing children’s rights and interests in the face of climate change at a special event with UNICEF at the COP 29 Summit in Baku, Azerbaijan.