Forex: Reserves go down 1.1% week-on-week

The SBP made payments of $94 million on account of external debt servicing during the week


Our Correspondent August 27, 2015
PHOTO: REUTERS

KARACHI:


Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 1.1% on a weekly basis on August 21, according to data released by the central bank.


SBP’s liquid foreign exchange reserves decreased $157 million to $13,458 million compared to $13,615 million in the previous week. The SBP made payments of $94 million on account of external debt servicing during the week.


Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $18,508.7 million while net reserves held by banks amounted to $5,050.3 million. In the week ended July 31, the 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).


In the week ended July 3, the SBP-held foreign exchange reserves registered an increase of 3.8% due to $514 million received from multilateral and bilateral sources, including $506 million from the IMF.


Published in The Express Tribune, August 28th,  2015.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

COMMENTS

Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ