Forex: Reserves rise to $8.737 billion
Reserves held by the State Bank of Pakistan (SBP) rose to $3.921 billion from $3.871 billion a week earlie.
The increase in the central bank reserves is attributed to receipts of $74 million from multilateral, bilateral and other official sources. CREATIVE COMMONS
KARACHI:
Foreign exchange reserves rose to $8.737 billion in the week ended February 28 from $8.654 billion in the previous week, the central bank said on Friday.
The government also plans to borrow from international markets by launching a Euro Bond to bolster reserves.
Published in The Express Tribune, March 8th, 2014.
Foreign exchange reserves rose to $8.737 billion in the week ended February 28 from $8.654 billion in the previous week, the central bank said on Friday.
Reserves held by the State Bank of Pakistan (SBP) rose to $3.921 billion from $3.871 billion a week earlier, while those held by commercial banks increased to $4.816 billion from $4.783 billion.
The increase in the central bank reserves is attributed to receipts of $74 million from multilateral, bilateral and other official sources.
Heavy debt repayments to the IMF have been putting a dent in the central bank’s reserves. However, exports and record remittances have supported the reserves.
The government also plans to borrow from international markets by launching a Euro Bond to bolster reserves.
Published in The Express Tribune, March 8th, 2014.