Foreign exchange: SBP’s reserves fall 0.16% week-on-week

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.16% on a weekly basis on December 9, according to data released by the central bank on Thursday.

The SBP’s liquid foreign exchange reserves dropped $30 million to $18,323.2 million compared to $18,353.2 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 $23,294.8 million. Net reserves held by banks amounted to $4,971.6 million. The decrease in reserves was on account of external debt servicing. More than a month ago, the central bank had made payments of $60 million. Over three months ago, the SBP-held reserves had gone up 7.8% on a weekly basis after the bank received $1,340 million from multilateral, bilateral and other official sources.

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

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