Foreign exchange: SBP’s reserves decrease 0.72% week-on-week

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.72% on a weekly basis on October 21, according to data released by the central bank Thursday.

SBP’s liquid foreign exchange reserves decreased by $142 million, to $19,320 million compared to $19,462 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 $24,326.5 million. Net reserves held by banks amounted to $5,005.7 million.

During the week, SBP made payments of $137 million on account of external debt servicing and other official payments.

Five and six weeks ago, the SBP made payments of $239 million and $296 million, respectively, on account of external debt servicing. Over a month before, the SBP made similar payments of $60 million.

Published in The Express Tribune, October 28^th, 2016.

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