Foreign exchange: SBP reserves dip 2.4% to stand at $9b
Decline comes on the back of external debt servicing and other official paymentsKARACHI: The foreign exchange reserves held by the central bank declined 2.4% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. However, financial assistance from the United Arab Emirates (UAE) and Saudi Arabia helped shore up the foreign exchange reserves. On April 19, the foreign currency reserves held by the SBP were recorded at $9,024.3 million, down $219 million compared with $9,243.7 million in the previous week. Overall, liquid foreign currency reserves, held by the country, including net reserves held by banks other than the SBP, stood at $15,994.3 million. In January last year, the SBP made a $500-million loan repayment to the State Administration of Foreign Exchange (SAFE), China.
Source: The Express Tribune April 25, 2019 14:45 UTC
