SBP’s reserves fall 2.23%, amount to $16.05b

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 2.23% on a weekly basis, according to data released on Thursday.

On April 21, the foreign currency reserves held by the central bank were recorded at $16,050.1 million, decreasing $366 million or 2.23%, compared to $16,416.1 million in the previous week, according to the central bank.

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $21,150.8 million. Net reserves held by banks amounted to $5,100.7 million. The decrease in reserves has been attributed to external debt servicing and other official payments. Two weeks ago, the SBP received multilateral inflows of $317 million and made payments of $118 million on account of external debt servicing and other official payments.

Published in The Express Tribune, April 28^th, 2017.

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