Forex reserves: SBP’s kitty goes up $32m

The central bank’s foreign exchange reserves increased to $7,042 million compared to $7,010 million in the last week.

Our Correspondent May 02, 2014

Total liquid foreign reserves held by the country stood at $11,740.7 million while net foreign reserves held by banks was $4,699.2 million on April 25. PHOTO: FILE

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a week-on-week increase of 0.45% on April 25, according to data released by the SBP.

The central bank’s foreign exchange reserves increased $32 million to $7,042 million compared to $7,010 million in the last week. The increase in the central bank’s reserves is attributed to an inflow of $50 million from multilateral and bilateral sources.

The central bank’s reserves had received a major bump due to receipts of $2 billion from the issue of sovereign bonds in the international capital market and $139 million from the Islamic Development Bank.

Total liquid foreign reserves held by the country stood at $11,740.7 million while net foreign reserves held by banks was $4,699.2 million on April 25.

Published in The Express Tribune, May 3^rd, 2014.

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