Foreign exchange: SBP’s reserves down $84m

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.6% on a weekly basis on October 16, according to data released by the central bank on Wednesday. SBP’s liquid foreign exchange reserves decreased $84 million to $15,020 million compared to $15,104 million in the previous week.

During the week, the SBP made payments of $113 million on account of external debt servicing. Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $19,920.8 million while net reserves held by banks amounted to $4,901.1 million.

Two weeks ago, SBP-held reserves increased 13.4%, or $1,794 million, after the central bank received $505 million from the International Monetary Fund (IMF), $500 million as proceeds of the Pakistan International Bonds, $376 million under the Coalition Support Fund (CSF) and $263 million as syndicate financing for the government of Pakistan.

Published in The Express Tribune, October 23^rd, 2015.

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