KARACHI: Foreign exchange reserves held by the StateBANK of Pakistan (SBP) increased 15.8% on a weekly basis, according to data released by the central bank on Thursday.
On December 8, foreignCURRENCY reserves held by the centralBANK were recorded at $14,666.3 million, up $2,005.8 million or 15.8% compared to $12,660.5 million in the previous week, according to the central bank.
The change in reserves was due to proceeds from the Pakistan international bonds and payments on account of external debt servicing and other official outflows.
Overall, liquid foreign reserves held by the country, including net reserves held byBANKS other than the SBP, stood at $20,686.7 million. Net reserves held by banks amounted to $6,020.4 million.
Foreign exchange: SBP’s reserves decrease 6.55%, stand at $12.7b
Pakistan recently raised $2.5 billion by floating dollar-denominated sovereign bonds in the internationalMARKET in a bid to shore up official reserves.
A few months ago, foreign currency reserves also surged due to official inflows including $622 million from the Asian DevelopmentBANK (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-millionLOAN repayment to the State Administration of Foreign Exchange (SAFE), China.