Foreign exchange: SBP’s reserves dip below $13.5b

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 1.4% on a weekly basis on September 18, according to data released by the central bank on Tuesday. SBP’s liquid foreign exchange reserves decreased $194 million to $13,496 million compared to $13,690 million in the preceding week. The decrease in reserves was on account of external debt servicing during the week, the SBP added. Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $18,500.8 million while net reserves held by banks amounted to $5,004.6 million. In the week ending July 31, SBP’s liquid foreign exchange reserves increased 2.8% to $13,767 million because of official inflows of $418 million, which included receipts of $337 million under the Coalition Support Fund.

Published in The Express Tribune, September 30^th, 2015.

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