PHOTO: EXPRESS
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 30th, 2017.
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