Foreign exchange: SBP’s reserves plunge 3.22%, amount to $14.28b

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 3.22% on a weekly basis, according to data released by the central bank on Thursday.



On September 15, the foreign currency reserves held by the central bank were recorded at $14,283.6 million, down $474.8 million or 3.22%, compared to $14,758.4 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 $20,099.7 million. Net reserves held by banks amounted to $5,816.1 million. The decrease in reserves was attributed to external debt servicing and other official payments.



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.

Published in The Express Tribune, September 22^nd, 2017.

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