As of June 2024, Pakistan gold reserves official assets totaled $15.36 billion, indicating a solid increase from $15.13 billion the previous month. This growth of $231.54 million reflects a 1.5% rise month-over-month.
Breakdown of Reserve Assets
Foreign Currency Reserves
Foreign currency reserves, which include securities, currency, and deposits held with domestic and international banks, increased significantly to $5.76 billion. This rise of $557.68 million, or 10.7%, was a major contributor to the overall growth.
Pakistan Gold Reserves
Pakistan’s gold reserves, which encompass gold deposits and swapped gold, stood at $4.85 billion. This represents a slight decrease of $34.96 million or 0.7% from last month’s figure of $4.88 billion. Monitoring these reserves is crucial for understanding the nation’s financial stability.
Other Reserve Assets
Other reserve assets reached $4.02 billion, showing a decline of $51.6 million or 1.3% from the previous month’s total of $4.07 billion.
Special Drawing Rights (SDRs)
The Special Drawing Rights (SDRs) amounted to $734.56 million, down $239.57 million or 24.6% from last month’s figure of $974.14 million. SDRs are international reserve assets valued based on a basket of five major currencies.
Reserve Position in Funds
Pakistan’s reserve position in funds, which indicates its quota with the International Monetary Fund (IMF), stayed the same at $0.16 million.This figure highlights the country’s standing within the international financial system.
Conclusion
In summary, Pakistan’s gold reserves play a significant role in the nation’s overall reserve assets. The positive increase in total reserves, driven largely by foreign currency reserves, demonstrates a healthy financial position. For daily updates on gold prices and related information, visit Daily Gold Signal or check out the Daily Gold Update.
