SBP’s reserves rise 6.19%, amount to $16.3b

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 6.19% on a weekly basis, according to data released on Thursday.

On June 23, the foreign currency reserves held by the central bank were recorded at $16,376 million, up $955.2 million or 6.19%, compared to $15,420.8 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 $21,358 million. Net reserves held by banks amounted to $4,982 million. The increase has been attributed to official inflows including $622 million from ADB and $106 million from World Bank.

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, June 30^th, 2017.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.