Foreign exchange: SBP’s reserves down to $14.704b

Total liquid foreign reserves held by the country stood at $19,746.3 million

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.8% on a weekly basis on November 6, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves decreased by $117 million to $14,704 million compared to $14,821 million in the previous week. The decrease in reserves is mainly attributed to the payments of $108 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 $19,746.3 million. Three weeks ago, SBP-held reserves increased 13.4%, or $1,794 million, after the central bank received $505 million from the International Monetary Fund, $500 million as proceeds of the Pakistan International Bonds, $376 million under the Coalition Support Fund and $263 million as syndicate financing for the government.

Published in The Express Tribune, November 13^th, 2015.

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