Foreign currency: Reserves up 5.1% week-on-week
SBP’s liquid foreign exchange reserves increased $605 million to $12,364 million. STOCK IMAGE
Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 5.1% on a weekly basis on April 17, according to data released by the central bank on Thursday.
SBP’s liquid foreign exchange reserves increased $605 million to $12,364 million compared to $11,759 million in the previous week. The rise in reserves is mainly attributed to receipts of privatisation proceeds of Habib Bank.
During the week, the SBP made payments of $270 million on account of external debt servicing and other official payments, the SBP said.
Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $17,491 million while net foreign reserves held by banks amounted to $5,127 million.
Reserves went up by almost 4% two weeks ago following the receipt of $538 million from multilateral, bilateral and other sources, including $498 million from the IMF.
Published in The Express Tribune, April 24th, 2015.