Weekly basis: Foreign reserves increase to $13,543m

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 0.5% on a weekly basis on July 17, according to data released by the central bank on Thursday. SBP’s liquid foreign exchange reserves increased $74 million to $13,543 million as opposed to $13,469 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 $18,677.4 million while net reserves held by banks amounted to $5,134.4 million. In the week ended on July 3, the 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 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 24^th,  2015.

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