Foreign exchange: SBP’s reserves increase 0.5% week-on-week

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 0.5% on a weekly basis on June 10, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves increased $83 million to $16,546 million compared to $16,463 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 $21,415.1 million while net reserves held by banks amounted to $4,868.9 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, June 17^th, 2016.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.