Forex watch: Foreign exchange reserves increase to $8.66b

Central bank’s foreign exchange reserves increased $56 million to $8,669 million.

Our Correspondent June 20, 2014

Central bank’s foreign exchange reserves increased $56 million to $8,669 million. PHOTO: FILE

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a week-on-week nominal increase of 0.6% on June 13, according to data released by the SBP on Thursday.

The central bank’s foreign exchange reserves increased $56 million to $8,669 million compared with $8,613 million in the previous week. During the week ending June 13, the SBP made other official payments of $18 million from its reserves.

The increase in the central bank’s reserves is primarily due to multilateral, bilateral and other official receipts amounting to $24 million, according to the SBP. Total liquid foreign reserves held by the country, including net foreign reserves held by banks other than the SBP, stood at $13,571.2 million while net foreign reserves held by banks amounted to $4,901.9 million on June 13.

Published in The Express Tribune, June 20^th, 2014.

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