Foreign exchange: SBP’s reserves increase 0.52% to $18.491b

KARACHI:  

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 0.52% on a weekly basis on September 30, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves increased $96 million to $18,491 million compared to $18, 395 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 $23,612 million while net reserves held by banks amounted to $5,121 million.

The increase in SBP’s reserves is due to proceeds of $102 million received from IMF as the last tranche under EFF. Two weeks ago, the SBP made payments of $239 million on account of external debt servicing. Three and four weeks before, the SBP made similar payments of $296 million and $60 million, respectively.

Published in The Express Tribune, October 7^th, 2016.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.