Pakistan’s foreign exchange reserves were flat at $17.03 billion for the week ending November 11, unchanged from the previous week, the central bank said on Thursday.
Reserves held by the State Bank of Pakistan (SBP) fell marginally to $13.27 billion compared with $13.28 billion the previous week. Reserves held by commercial banks rose marginally to $3.76 billion from $3.75 billion the previous week. Foreign exchange reserves hit a record $18.31 billion in the week ending July 30, but have since eased due to debt repayments.
The reserves were boosted in June by inflows of $411 million, including a $191.9 million loan from the World Bank, and a loan of $196.8 million from the Asian Development Bank.
Published in The Express Tribune, November 18th, 2011.
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As I have asked before, does every movement or non-movement of the reserve level need to be highlighted as though it is the biggest economic news of the day?
Please make a pact with yourselves that only significant reserve changes will be news-worthy. There are continuous short-term disturbances to reserves in all countries -- just like the exchange rate. Unless it is part of a trend, these disturbances don't have to become headlines.