Boost: Forex reserves rise 40% following bond float

The central bank’s foreign exchange reserves increased by $2,026 million to $7,010 million.


Our Correspondent April 24, 2014
The increase in the central bank’s reserves is attributed to receipts of $2 billion from the issue of sovereign bonds in the international capital market and $139 million from the Islamic Development Bank, according to an SBP spokesman. PHOTO: FILE

KARACHI:


Foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a week-on-week increase of 40.65% on April 18, according to data released by the SBP on Thursday.


The central bank’s foreign exchange reserves increased by $2,026 million to $7,010 million compared to $4,984 million in the preceding week.


The increase in the central bank’s reserves is attributed to receipts of $2 billion from the issue of sovereign bonds in the international capital market and $139 million from the Islamic Development Bank, according to an SBP spokesman.


Total liquid foreign reserves held by the country, including net foreign reserves held by banks other than the SBP, stood at $11,753.8 million while net foreign reserves held by banks amounted to $4,743.8 million on April 18.

Published in The Express Tribune, April 25th, 2014.

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COMMENTS (1)

Salman | 7 years ago | Reply

Really only $11 bn!...even Sri Lanka &Bangladesh has more forex reserves than ours...& forget any competion $310bn of india...Lol India has more forex reserves than our whole economy..

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