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Foreign currency: SBP’s reserves fall 0.15% week-on-week

SBP had received $370 million from multilateral, bilateral and other official sources

Our Correspondent July 21, 2016

SBP had received $370 million from multilateral, bilateral and other official sources. PHOTO: FILE

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.15% on a weekly basis on July 15, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves decreased $27 million to $18,077 million compared with $18,104 million in the previous week. During the week, the SBP made payments of $63 million on account of external debt servicing.

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $23,091.4 million while net reserves held by banks amounted to $5,014 million.

Two weeks ago, SBP-held reserves increased 7.8% on a weekly basis after it 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.

Last month, the SBP had received $370 million from multilateral, bilateral and other official sources.

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

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