SBP’s reserves fall 1.57%, amount to $16.466b

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 1.57% week-on-week.

On March 31, the foreign currency reserves held by the central bank were recorded at $16,466.1 million, a dip of $264.2 million or 1.57%, compared to $16,730.3 million in the previous week, according to data released by the central bank on Thursday.

The decrease is mainly attributed to external debt servicing and other official payments.

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $21,550.5 million. Net reserves held by banks amounted to $5,084.4 million. Three weeks ago, the SBP received $200 million under the Coalition Support Fund (CSF) from the United States and made payments of $97 million on account of external debt servicing and other official payments.

Published in The Express Tribune, April 7^th, 2017.

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