Foreign exchange: SBP’s reserves fall 1% week-on-week

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 1% on a weekly basis on August 7, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves decreased $139 million to $13,628 million compared to $13,767 million in the preceding week. The SBP made payments of $137 million on account of external debt servicing and other official payments during the week.

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $18,678.8 million while net reserves held by banks amounted to $5,051 million.

In the week ending July 31, SBP’s liquid foreign exchange reserves increased 2.8% to $13,767 million because of official inflows of $418 million, which included receipts of $337 million under the Coalition Support Fund (CSF).

Published in The Express Tribune, August 14^th, 2015.

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