SBP’s reserves decrease 0.22%, amount to $14.34b

In January, SBP made a $500-million loan repayment to State Administration of Foreign Exchange, China

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.22% on a weekly basis, according to data released by the central bank on Thursday.



On August 25, the foreign currency reserves held by the central bank were recorded at $14,343 million, down $32 million or 0.22%, compared to $14,375.1 million in the previous week, according to the central bank. External debt servicing during the week was cited as the reason for the decrease in reserves.

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,001.1 million. Net reserves held by banks amounted to $5,657.7 million.



More than a month ago, foreign currency reserves increased due to official inflows including $622 million from the Asian Development Bank (ADB) and $106 million from the World Bank.

In January, the SBP made a $500-million loan repayment to the State Administration of Foreign Exchange (SAFE), China.

Published in The Express Tribune, September 1^st, 2017.

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