Foreign currency: Reserves increase 0.8% week-on-week

KARACHI:  

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 0.8% on a weekly basis on May 6, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves increased $128 million to $16,033 million compared to $15,905 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 $20,834.2 million while net reserves held by banks amounted to $4,801.5 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.

Two months ago, foreign exchange reserves held by the SBP increased 3.5% on a weekly basis after it received $500 million from the IMF.

Published in The Express Tribune, May 13^th, 2016.

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