Inflated: Forex records 1% increase

SBP’s liquid foreign exchange reserves increased by $110 million to $10,359 million


Our Correspondent February 06, 2015
Pakistan’s foreign exchange reserves recorded a rapid rise in the last month of 2014 when the SBP received $1,221 million from multilateral, bilateral and other sources. PHOTO: REUTERS

KARACHI:


Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 1% on a weekly basis on January 30, according to data released by the central bank on Friday.


SBP’s liquid foreign exchange reserves increased by $110 million to $10,359 million compared to $10,249 million in the previous week.

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $15,159.2 million while net foreign reserves held by banks amounted to $4,800.3 million.

Pakistan’s foreign exchange reserves recorded a rapid rise in the last month of 2014 when the SBP received $1,221 million from multilateral, bilateral and other sources.

This was preceded by another 10.6% weekly rise in the SBP’s liquid foreign reserves in the same month.

Published in The Express Tribune, February 7th,  2015.

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