sbp data: Foreign reserves fall 2% week-on-week

Also, the reserves held with banks other than SBP dropped $27.6 million to $4.81 billion during the week


Our Correspondent February 09, 2017
First quarterly report says agricultural sector recovers with improved output of major crops. PHOTO: EXPRESS

KARACHI: Pakistan’s foreign exchange reserves fell around 2% to $22.03 billion in the week ended February 3, 2017, the State Bank of Pakistan (SBP) reported on Thursday.

The central bank, however, avoided giving reasons for the decline this week.

In the prior week, the bank had attributed the then decrease mainly to external debt servicing, including $500 million loan repayment to State Administration of Foreign Exchange, China.

According to details, the reserves held with the central bank decreased $376 million to $17.21 billion in the under review week.

Also, the reserves held with banks other than SBP dropped $27.6 million to $4.81 billion during the week.

Published in The Express Tribune, February 10th, 2017.

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