Foreign exchange: SBP’s reserves rise $65 million

Reserves are likely to increase further soon because of the $550 million tranche approval from IMF


Our Correspondent March 12, 2015
SBP’s liquid foreign exchange reserves increased $65 million to $11,272 million as opposed to $11,207 million in the previous week. STOCK IMAGE

KARACHI:


Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 0.5% on a weekly basis on March 6, according to data released by the central bank on Thursday.


SBP’s liquid foreign exchange reserves increased $65 million to $11,272 million as opposed to $11,207 million in the previous week.


Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, currently stand at $ 16,284.2 million while net foreign reserves held by banks amounted to $5,012.3 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  13th,  2015.

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