Foreign exchange: SBP’s reserves touch $11,617m
During the week, the SBP made payments of $70 million on account of external debt servicing and other official payments. PHOTO: REUTERS
Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 3.99% on a weekly basis on April 3, according to data released by the central bank on Thursday.
SBP’s liquid foreign exchange reserves increased by $494 million to $11,617 million compared to $11,123 million in the previous week. The increase in reserves is mainly attributed to receipts of $538 million from multilateral, bilateral and other sources, including $498 million from the IMF.
During the week, the SBP made payments of $70 million on account of external debt servicing and other official payments.
Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $16,706.3 million while net foreign reserves held by banks amounted to $5,089.8 million.
Reserves went up significantly in February when the SBP received $717 million on account of Coalition Support Fund (CSF).
Published in The Express Tribune, April 10th, 2015.