Forex: Reserves drop a nominal 0.9%

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a week-on-week nominal decrease of 0.9% on July 18, according to data released by the SBP on Thursday.

The central bank’s foreign exchange reserves decreased $87 million to $9,399 million compared to $9,486 million in the preceding week.

During the week ending July 18, the SBP made payments of $69 million on account of external debt servicing and other official payments. The SBP did not receive any significant inflows during this week.

Total liquid foreign reserves held by the country, including net foreign reserves held by banks other than the SBP, stood at $14,450.2 million while net foreign reserves held by banks amounted to $5,051.4 million on July 18.

Published in The Express Tribune, July 25^th, 2014.

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