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 3rd, 2014.
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