Foreign Exchange Reserves Decreased


Karachi(February 22, 2018): Total liquid foreign exchange reserves of the country stands at dollars 18.829 billion.

According to a weekly statement on Thursday by the SBP(The State Bank Of Pakistan), on February 16, the foreign reserves held by State Bank amounted to $12,703.7 million and the net foreign reserves with commercial banks were $6,125.0 million.

During the week ending February 16, the SBP reserves decreased by $130 million to $12,704 million, due to external debt servicing and other official payments.

A few months ago, foreign currency reserves surged due to official inflows including $622 million from the Asian Development Bank (ADB) and $106 million from the World Bank.

Earlier, the SBP received $350 million under the Coalition Support Fund (CSF) and made payments of $62 million for external debt servicing.

In January, the SBP made a $500-million loan repayment to the State Administration of Foreign Exchange (SAFE), China.

Related News:

E-Commerce Is On The Rise in Pakistan: State Bank

Pakistan Economy Expected to Grow by 5.6pc This Year: IMF

Originally Posted on Abbtak TV


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