Foreign exchange: SBP's reserves inch up 0.05%, stand at $13.54b

Published: November 30, 2017

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) edged up 0.05% on a weekly basis, according to data released by the central bank on Thursday.

On November 24, foreign currency reserves held by the central bank were recorded at $13,547.3 million, up $6.2 million or 0.05% compared to $13,541.1 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 $19,693.2 million. Net reserves held by banks amounted to $6,145.9 million.

SBP’s reserves fall 1% to stand at $13.54b

A few months ago, foreign currency reserves surged 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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