SBP’s liquid foreign exchange reserves increased $132 million to $11,207 million compared with $11,075 million in the preceding week. PHOTO: REUTERS
Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 1.2% on a weekly basis on February 27, according to data released by the central bank on Thursday.
SBP’s liquid foreign exchange reserves increased $132 million to $11,207 million compared with $11,075 million in the preceding week.
The figure includes disbursement of $51 million from the International Development Association.
Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, currently stand at $16,136.6 million while net foreign reserves held by banks amounted to $4,929.4 million.
Reserves are likely to increase further soon because of the $550 million tranche approval from the International Monetary Fund (IMF).
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.
Published in The Express Tribune, March 6th, 2015.
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