Foreign exchange: Reserves increase 10.6% week-on-week

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 10.6% on a weekly basis on December 5, according to data released by the central bank on Thursday. SBP’s liquid foreign exchange reserves increased by $981 million to $9,203 million compared to $8,222 million in the previous week. During the week, the SBP received $ 1 billion against the issuance of Pakistan Sukuk Bonds and $41 million from multilateral, bilateral and other sources. The SBP made payments of $83 million on account of external debt servicing and other official payments during the week. Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $13,922.4 million while net foreign reserves held by banks amounted to $4,719.3 million.

Published in The Express Tribune, December 12^th, 2014.

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