Week-on-week: Forex reserves rise $400m
In April, foreign exchange reserves held by the SBP increased 5.1% because of the receipt of HBL’s privatisation proceeds. PHOTO: AFP
Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 3.3% on a weekly basis on June 5, according to data released by the central bank on Thursday.
SBP’s liquid foreign exchange reserves rose $400 million to $12,313 million as opposed to $11,913 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 $17,446.9 million while net reserves held by banks amounted to $5,134.2 million.
In April, foreign exchange reserves held by the SBP increased 5.1% because of the receipt of HBL’s privatisation proceeds.
Reserves went up by almost 4% in April following the receipt of $538 million from multilateral, bilateral and other sources, including $498 million from the IMF.
They increased significantly in February when the SBP got $717 million on account of the Coalition Support Fund (CSF).
Published in The Express Tribune, June 12th, 2015.