KARACHI:
Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 1.8% on a weekly basis on December 11, according to data released by the central bank on Thursday.
SBP’s liquid foreign exchange reserves increased $278 million to $15,719 million compared to $15,441 million in the previous week. The increase in reserves is attributed to receipts of $300 million on account of long-term syndicated financing for government.
Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,709.3 million while net reserves held by banks amounted to $4,990 million.
Last week, the SBP received $918 million from multilateral, bilateral and other official sources, which include $500 million received from the World Bank and $400 million from the Asian Development Bank.
SBP-held reserves increased 13.4%, or $1,794 million, in October.
Published in The Express Tribune, December 18th, 2015.
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