Foreign exchange: SBP’s reserves up 5.7%, amount to $19.462 billion

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 5.7% on a weekly basis on October 14, according to data released by the central bank Thursday.

SBP’s liquid foreign exchange reserves increased by $1,052 million, going up to $19,462 million compared to $18,410 million in the previous week. The increase in SBP’s reserves is mainly attributed to proceeds of $1 billion raised by the country against the issuance of Sukuk. Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $24,461.4 million. Net reserves held by banks amounted to $4,999.7 million. Three and four weeks ago, the SBP made payments of $239 million and $296 million, respectively, on account of external debt servicing.

Published in The Express Tribune, October 21^st, 2016.

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