SBP’s reserves fall 7.18%, amount to $15.7b

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 7.18% on a weekly basis, according to data released on Thursday.

On June 2, the foreign currency reserves held by the central bank were recorded at $15,706.6 million, decreasing $1,215.3 million or 7.18%, compared to $16,921.9 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 $20,515.7 million. Net reserves held by banks amounted to $4,809.1 million. During the week, the SBP made payments of $1,239 million on account of external debt servicing, which included principal repayment of $750 million against Pakistan’s sovereign bond.

Two months 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, June 9^th, 2017.

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