Week-on-week: Forex reserves up $33 million

SBP’s liquid foreign exchange reserves up by $33 million to $12,550 million compared to $12,517 million previous week

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 0.2% on a weekly basis on May 8, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves increased by $33 million to $12,550 million compared to $12,517 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 $17,739.3 million while net foreign reserves held by banks amounted to $5,189.4 million.

Three weeks ago, foreign exchange reserves held by the SBP increased 5.1% because of the receipt of HBL privatisation proceeds.

Reserves went up by almost 4% last month following the receipt of $538 million from multilateral, bilateral and other sources, including $498 million from the IMF.

Published in The Express Tribune, May 15^th, 2015.

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