Foreign exchange: Reserves decline by 0.2% week-on-week

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.2% on a weekly basis on April 8, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves decreased $37 million to $16,041 million compared to $16,078 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 $20,834.3 million while net reserves held by banks amounted to $4,793.5 million.

SBP-held foreign exchange reserves had increased 3.1% on a weekly basis on April 1 after the central bank received $978 million during the week from multilateral, bilateral and other official sources, including $503 million received from the IMF under EFF and $408 million as financing for the government.

Published in The Express Tribune, April 15^th, 2016.

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