Foreign exchange reserves held by SBP recorded a week-on-week increase of 0.82%. ILLUSTRATION: JAMAL KHURSHID
Foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a week-on-week increase of 0.82% on April 11, according to data released by the SBP on Thursday.
The central bank’s foreign exchange reserves increased $41 million to $4.984 billion during the week.
Total liquid foreign reserves held by the country, including net foreign reserves held by banks other than the SBP, stood at $9.85 billion on April 11, up 1.44% from the figure reported for the week ended April 4. Net foreign reserves held by banks amounted to $4.86 billion on April 11.
The International Monetary Fund’s executive board on March 24 approved the third loan tranche of $540 million for Pakistan, which is going to support the foreign exchange reserves position in coming weeks.
Published in The Express Tribune, April 18th, 2014.
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