Foreign exchange: SBP’s reserves continue to fall week-on-week

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.6% on a weekly basis on February 5, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves decreased $94 million to $15,341 million as opposed to $15,435 million in the previous week.

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,195.8 million while net reserves held by banks amounted to $4,854.8 million.

Last month, foreign exchange reserves held by the SBP increased 3.5% on a weekly basis after it received $500 million from the IMF.

The SBP received $918 million in November from multilateral, bilateral and other official sources, which include $500 million received from the World Bank and $400 million from the Asian Development Bank.

Published in The Express Tribune, February 12^th, 2016.

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