Business

Foreign exchange: SBP’s reserves up 0.31% week-on-week

SBP’s liquid foreign exchange reserves increased $55 million to $17,719 million

Our Correspondent August 18, 2016

Last month, the 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) increased 0.31% on a weekly basis on August 12, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves increased $55 million to $17,719 million compared to $17,664 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 $22,623.2 million while net reserves held by banks amounted to $4,903.6 million. Four 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 ADB.

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

Published in The Express Tribune, August 19^th, 2016.

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