Pakistan

Foreign exchange: SBP’s reserves decrease 0.16%, amount to $18.268.9b

Net reserves held by banks amounted to $4,894.7 million. SBP’s reserves decreased due to external debt servicing

Our Correspondent January 05, 2017

PHOTO AFP

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.16% on a weekly basis on December 30, according to data released by the central bank on Thursday.

The SBP’s liquid foreign exchange reserves decreased $30.5 million to $18,268.9 million compared to $18,299.4 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 $23,163.6 million. Net reserves held by banks amounted to $4,894.7 million. SBP’s reserves decreased due to 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.

Published in The Express Tribune, January 6^th, 2017.

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