State bank: Forex reserves fall $34m

During the week, the SBP made payments of $57 million on account of external debt servicing


Our Correspondent January 22, 2015
Pakistan’s foreign exchange reserves recorded a rapid rise in the last month of 2014.

KARACHI:


Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.3% on a weekly basis on January 16, according to data released by the central bank on Thursday.


SBP’s liquid foreign exchange reserves decreased $34 million to $10,331 million compared to $10,365 million in the previous week.

During the week, the SBP made payments of $57 million on account of external debt servicing and other official payments. No major inflows were recorded during the week under consideration.

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $15,019.8 million while net foreign reserves held by banks amounted to $4,689.3 million.

Pakistan’s foreign exchange reserves recorded a rapid rise in the last month of 2014.

Published in The Express Tribune, January 23rd,  2015.

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