Foreign exchange: Reserves down 0.7%

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.7% on a weekly basis on October 23, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves decreased by $102 million to $14,918 million compared to $15,019 million in the preceding week.

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $19,818.7 million while net reserves held by banks amounted to $4,900.4 million.

During the week, SBP made payments of $123 million on account of external debt servicing and other official payments.

Last week, SBP’s liquid foreign reserves decreased by 0.6%, or $84 million, as SBP made payments of $113 million on account of external debt servicing.

Published in The Express Tribune, October 30^th, 2015.

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