SBP reserves rise 0.6%, amount to $14.677b

Total country’s reserves increase to $19.828b

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 0.6% on a weekly basis on November 20, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves increased $88 million to $14,677 million compared to $14,589 million in the previous week.  Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $19,828.2 million while net reserves held by banks amounted to $5,151.6 million.



Last month, 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.

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).

In the week ending on July 3, SBP-held foreign exchange reserves had also registered an increase of 3.8% because of $514 million received from multilateral and bilateral sources, including $506 million received from the IMF under the Extended Fund Facility.

Foreign exchange reserves held by the SBP had gone up 6.2% in the last week of June.

Published in The Express Tribune, November 27^th,  2015.

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