Foreign exchange: SBP’s reserves shoot past $16 billion

The SBP received during the week $978 million from multilateral, bilateral and other official sources


Our Correspondent April 07, 2016
PHOTO: AFP

KARACHI:


Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 3.1% on a weekly basis on April 1, according to data released by the central bank on Thursday night.


SBP’s liquid foreign exchange reserves increased by $490 million to $16,078 million compared to $15,588 million in the previous week.


The SBP received during the week $978 million from multilateral, bilateral and other official sources, including $503 million received from the IMF under EFF and $408 million as financing for the government. The SBP made payments of $602 million on account of external debt servicing, which included repayment of $518 million against Pakistan Sovereign Bond.


Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,884.9 million while net reserves held by banks amounted to $4,806.8 million.

Published in The Express Tribune, April 8th,  2016.

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