Forex: Currency reserves fall to $11.007 billion
Reserves held by the State Bank of Pakistan (SBP) fell to $ 6.009 billion from $6.256 billion a week earlier.
KARACHI:
Foreign exchange reserves fell slightly to $11.007 billion in the week ending June 28 from $11.344 billion in the previous week, the central bank said on Thursday. Reserves held by the State Bank of Pakistan (SBP) fell to $ 6.009 billion from $6.256 billion a week earlier, while those held by commercial banks fell to $4.997 billion from $5.088 billion. Pakistan made its last payment of $260 million in the Stand-By-Arrangement (SBA) to the IMF on June 28 2013. Meanwhile, exports and record remittances have supported Pakistan’s reserves.
Published in The Express Tribune, July 5th, 2013.
Foreign exchange reserves fell slightly to $11.007 billion in the week ending June 28 from $11.344 billion in the previous week, the central bank said on Thursday. Reserves held by the State Bank of Pakistan (SBP) fell to $ 6.009 billion from $6.256 billion a week earlier, while those held by commercial banks fell to $4.997 billion from $5.088 billion. Pakistan made its last payment of $260 million in the Stand-By-Arrangement (SBA) to the IMF on June 28 2013. Meanwhile, exports and record remittances have supported Pakistan’s reserves.
Published in The Express Tribune, July 5th, 2013.