SBP’s reserves rise 4.37%, amount to $16.9b

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 4.37% on a weekly basis, according to data released on Thursday.

On May 26, the foreign currency reserves held by the central bank were recorded at $16,921.9 million, increasing $709.3 million or 4.37%, compared to $16,212.6 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 $21,770.4 million. Net reserves held by banks amounted to $4,848.5 million. The increase in reserves has been attributed to official inflows.

Earlier, the SBP received $350 million under the CSF and made payments of $62 million for external debt servicing.

Published in The Express Tribune, June 2^nd, 2017.

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