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Foreign currency: Reserves held by SBP up 7.8% week-on-week

During the week, the SBP made payments of $50 million on account of external debt servicing

Our Correspondent July 11, 2016

Last month, the SBP had received $370 million from multilateral, bilateral and other official sources including $107 million from the World Bank. Total liquid foreign reserves held by the country. PHOTO: AFP

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 7.8% on a weekly basis on July 1, according to data released by the central bank on Monday.

SBP’s liquid foreign exchange reserves increased $1,309 million to $18,129 million compared to $16,820 million in the previous week.

During the week, the SBP received $1,340 million from multilateral, bilateral and other official sources that included $501 million from the IMF, $502 million from the World Bank and $307 million from the Asian Development Bank.

During the week, the SBP made payments of $50 million on account of external debt servicing.

Last month, the SBP had received $370 million from multilateral, bilateral and other official sources including $107 million from the World Bank. Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $23,084.9 million while net reserves held by banks amounted to $4,956 million.

Published in The Express Tribune, July 12^th, 2016.

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