Foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a week-on-week decrease of 0.3% on September 5, according to data released by the central bank on Thursday.
SBP’s liquid foreign exchange reserves decreased $26 million to $8,693 million compared with $8,719 million in the previous week.
During the week, the SBP made payments of $61 million on account of external debt. No major official inflow was received by the SBP during the week.
Total liquid foreign reserves held by the country, including net foreign reserves held by banks other than the SBP, stood at $13,414.8 million while net foreign reserves held by banks amounted to $4,721.4 million on September 5.
Pakistan’s foreign exchange reserves increased more than 50% in 2013-14, which earned the SBP accolades from the International Monetary Fund (IMF).
Published in The Express Tribune, September 12th, 2014.
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