SBP’s reserves fall 1.42%, amount to $16.1b

Total liquid foreign reserves, including net reserves held by banks other than the SBP, stood at $21,367.8 million

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 1.42% on a weekly basis, according to data released on Thursday.



On June 30, the foreign currency reserves held by the central bank were recorded at $16,143.3 million, down $232.7 million or 1.42%, compared to $16,376 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 $21,367.8 million. Net reserves held by banks amounted to $5,224.5 million. The decrease has been attributed to payments on account of external debt servicing. Last week foreign reserves increased due 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, July 7^th, 2017.

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