Foreign exchange: SBP's reserves continue to fall
The decrease in SBP's reserves is due to external debt servicing and other official payments
PHOTO AFP
KARACHI:
Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.72% on a weekly basis on December 16, according to data released by the central bank on Thursday.
The SBP's liquid foreign exchange reserves dropped $132.8 million to $18,190.4 million compared to $18,323.2 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 $23,132.0 million. Net reserves held by banks amounted to $4,941.6 million.
The decrease in SBP's reserves is due to external debt servicing and other official payments.
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 23rd, 2016.
Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.72% on a weekly basis on December 16, according to data released by the central bank on Thursday.
The SBP's liquid foreign exchange reserves dropped $132.8 million to $18,190.4 million compared to $18,323.2 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 $23,132.0 million. Net reserves held by banks amounted to $4,941.6 million.
The decrease in SBP's reserves is due to external debt servicing and other official payments.
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 23rd, 2016.