Foreign exchange: SBP’s reserves dip to $17.854 billion

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 1.17% on a weekly basis on September 9, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves decreased $211 million to $17,854 million compared to $18,065 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 $22,858.4 million while net reserves held by banks amounted to $5,004.7 million.

During the week, SBP made payments of $296 million on account of external debt servicing.

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

Over 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.

Published in The Express Tribune, September 16^th, 2016.

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