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
PHOTO: EXPRESS
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.
A dramatic fall, and an equally dramatic rise
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.
Worst one-day fall for rupee since 2008 as dealers panic
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 7th, 2017.
Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 1.42% on a weekly basis, according to data released on Thursday.
A dramatic fall, and an equally dramatic rise
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.
Worst one-day fall for rupee since 2008 as dealers panic
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 7th, 2017.