Foreign exchange: SBP’s reserves remain almost flat week-on-week

Total liquid foreign reserves held by the country stood at $20,779.8 million

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) remained almost flat on a weekly basis on April 15, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves decreased $14 million to $16,027 million compared to $16,041 million in the previous week. The SBP made payments of $178 million on account of external debt servicing and other official payments during the week. The SBP received $223.6 million from the United States under the Coalition Support Fund (CSF) over the same seven-day period.

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,779.8 million while net reserves held by banks amounted to $4,752.6 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.

Published in The Express Tribune, April 22^nd,  2016.

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