Business

Foreign exchange: SBP’s reserves remain almost flat

Last month, foreign exchange reserves held by the SBP increased 3.5% on a weekly basis

Our Correspondent February 26, 2016

PHOTO: AFP

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) remained almost flat on a weekly basis on February 19, according to data released by the central bank on Thursday. SBP’s liquid foreign exchange reserves decreased $36 million to $15,479 million compared to $15,515 million in the previous week. The decrease in reserves was due to payments of $35 million on account of external debt servicing.

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,332.9 million while net reserves held by banks amounted to $4,854 million.

Last month, foreign exchange reserves held by the SBP increased 3.5% on a weekly basis.

Published in The Express Tribune, February 26^th, 2016.

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