Weekly basis Foreign reserves fall 0.5%

Total liquid foreign reserves held by the country stood at $ 18,589.9 million

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.5% on a weekly basis on July 10, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves decreased $66 million to $13,469 million compared to $13,535 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 $ 18,589.9 million while net reserves held by banks amounted to $5,120.5 million.

In the week ending on July 3, SBP-held foreign exchange reserves increased 3.8% mainly because of the receipt of $514 million from multilateral and bilateral sources, which included $506 million received from the IMF under the Extended Fund Facility.

Foreign exchange reserves held by the SBP had gone up 6.2% in the last week of June.

Published in The Express Tribune, July 17^th, 2015.

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