Foreign exchange: SBP’s reserves down to $18.065b

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.35% on a weekly basis on September 2, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves decreased $64 million to $18,065 million compared to $18,129 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 $22,983.7 million while net reserves held by banks amounted to $4,918.4 million.

During the week, SBP made payments of $60 million on account of external debt servicing.

Two months ago, the 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.

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

Published in The Express Tribune, September 9^th, 2016.

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