SBP’s reserves fall below $16b
The decrease in reserves is attributed to external debt servicing
PHOTO: EXPRESS
KARACHI:
Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.93% on a weekly basis, according to data released on Thursday.
On May 5, the foreign currency reserves held by the central bank were recorded at $15,912.5 million, decreasing $149.1 million or 0.93%, compared to $16,061.6 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 $20,790.5 million. Net reserves held by banks amounted to $4,878 million.
The decrease in reserves is attributed to external debt servicing.
A month 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. In January, the SBP made a loan repayment of $500 million to the State Administration of Foreign Exchange (SAFE), China.
Published in The Express Tribune, May 12th, 2017.
Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.93% on a weekly basis, according to data released on Thursday.
On May 5, the foreign currency reserves held by the central bank were recorded at $15,912.5 million, decreasing $149.1 million or 0.93%, compared to $16,061.6 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 $20,790.5 million. Net reserves held by banks amounted to $4,878 million.
The decrease in reserves is attributed to external debt servicing.
A month 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. In January, the SBP made a loan repayment of $500 million to the State Administration of Foreign Exchange (SAFE), China.
Published in The Express Tribune, May 12th, 2017.