SBP’s liquid foreign exchange reserves rose to $11,123 million compared to $11,067 million in the previous week. STOCK IMAGE
KARACHI:
Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 0.5% on a weekly basis on March 27, according to data released by the central bank on Thursday.
SBP’s liquid foreign exchange reserves rose by $56 million to $11,123 million compared to $11,067 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 $16,194.2 million while net foreign reserves held by banks amounted to $5,070.9 million.
The increase comes after the International Monetary Fund’s approval of the release of the seventh loan tranche of around $500 million on March 27. The approval was already anticipated as the government had met all the conditions of the IMF.
Published in The Express Tribune, April 3rd, 2015.
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