Week-on-week: Forex reserves fall $119m

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 1% on a weekly basis on February 20, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves decreased by $119 million to $11,075 million compared with $11,194 million in the preceding week.

The SBP made payments of $161 million during the week on account of external debt and other official payments, which included $136 million payment to the International Monetary Fund.

During the same period, the SBP received $43 million from multilateral, bilateral and other sources. The SBP had received $717 million on account of the Coalition Support Fund (CSF) in the week ended on February 13.

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, currently stand at $15,943.7 million while net foreign reserves held by banks amounted to $4,868.8 million.

Published in The Express Tribune, February 27^th, 2015.

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