Forex: Reserves on the rise

The central bank’s foreign exchange reserves increased $33 million to $8,683 million.


Our Correspondent June 05, 2014
The central bank’s foreign exchange reserves increased $33 million to $8,683 million. PHOTO: FILE

KARACHI:


Foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a week-on-week nominal increase of 0.4% on May 30, according to data released by the SBP on Thursday.


The central bank’s foreign exchange reserves increased $33 million to $8,683 million as opposed to $8,650 million in the previous week.


During the week ending May 30, the SBP received inflows of $39 million from multilateral, bilateral and other official sources. On account of external debt-servicing and other official payments, the SBP made payments of $231 million from its reserves.


Total liquid foreign reserves held by the country, including net foreign reserves held by banks other than the SBP, stood at $13,439.4 million while net foreign reserves held by banks amounted to $4,756.7 million on May 30.


Published in The Express Tribune, June 6th, 2014.

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