Foreign reserves reach $12,044.3m

KARACHI: The total liquid foreign reserves held by the country stood at $12,044.3 million on 02 May 2014. The break-up of the foreign reserves position is as foreign reserves held by the State Bank of Pakistan were $7,240.2 million, net foreign reserves held by banks were $ 4,804.1 million and total liquid foreign reserves were $ 12,044.3 million.

During the week ending 02 May2014, SBP’s Liquid FX Reserves increased by $198 million to $7,240 million compared to $7,042 million in the previous week.

The increase in the Central Bank reserves is primarily attributed to inflows of $403 million from multilateral and bilateral sources, of which $400 million were received from Asian Development Bank (ADB).

During the week ending 02 May2014, on account of external debt servicing and other official payments, SBP has made payments of US$210 million from its reserves;

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