Forex: Reserves down by 0.2% on weekly basis
SBP’s liquid foreign exchange reserves decreased $29 million to $12,284 million. PHOTO: FILE
Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.2% on a weekly basis on June 12, according to data released by the central bank on Thursday.
SBP’s liquid foreign exchange reserves decreased $29 million to $12,284 million as opposed to $12,313 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 $17,448.5 million while net reserves held by banks amounted to $5,164.2 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 19th, 2015.