Week-on-week: Forex reserves increase 1.2%

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a week-on-week increase of 1.2% on September 12, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves increased by $103 million to $8,796 million compared to $8,693 million in the previous week.

During the week, the SBP received $23 million from multilateral, bilateral and other sources. The central bank made payments of $25 million on account of external debt during the week.

Total liquid foreign reserves held by the country, including net foreign reserves held by banks other than the SBP, stood at $13,525.2 million while net foreign reserves held by banks amounted to $4,729.7 million on September 12.

Published in The Express Tribune, September 19^th, 2014.

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