Forex: Reserves rise 2.8% week-on-week
The central bank’s foreign exchange reserves increased $198 million to $7,240 million.
The increase in the central bank’s reserves is primarily attributed to inflows of $403 million from multilateral and bilateral sources, of which $400 million were received from ADB. ILLUSTRATION: JAMAL KHURSHID
KARACHI:
Foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a week-on-week increase of 2.8% on May 2, according to data released by the SBP on Thursday.
Total liquid foreign reserves held by the country, including net foreign reserves held by banks other than the SBP, stood at $12,044.3 million while net foreign reserves held by banks amounted to $4,804.1 million on May 2.
Published in The Express Tribune, May 9th, 2014.
Foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a week-on-week increase of 2.8% on May 2, according to data released by the SBP on Thursday.
The central bank’s foreign exchange reserves increased $198 million to $7,240 million compared to $7,042 million in the preceding week. The increase in the central bank’s reserves is primarily attributed to inflows of $403 million from multilateral and bilateral sources, of which $400 million were received from the Asian Development Bank (ADB), according to a spokesman for the SBP.
Total liquid foreign reserves held by the country, including net foreign reserves held by banks other than the SBP, stood at $12,044.3 million while net foreign reserves held by banks amounted to $4,804.1 million on May 2.
Published in The Express Tribune, May 9th, 2014.