Foreign exchange: SBP's reserves fall 1.32% to stand at $13.7b

Decline due to external debt and other official payments


Our Correspondent November 16, 2017
PHOTO: AFP

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 1.32% on a weekly basis, according to data released by the central bank on Thursday.

On November 10, foreign currency reserves held by the central bank were recorded at $13,677.6 million, down $183.6 million or 1.32% compared to $13,861.2 million in the previous week, according to the central bank.

The decline in reserves has been attributed to external debt and other official payments.

Foreign exchange: SBP’s reserves rise 0.07% to $13.86b

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $19,695 million. Net reserves held by banks amounted to $6,017.4 million.

A few months 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.

Earlier, the SBP received $350 million under the Coalition Support Fund (CSF) and made payments of $62 million for external debt servicing.

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

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