KARACHI: Pakistan’s total liquid foreign exchange (forex) reserves are at $17,717.6 million for the week ended on April 24,2015 as compared to $17,491 million of the previous week, ended at April 17, as reported by Domestic Markets & Monetary Management Department of the State Bank of Pakistan (SBP).
During the week, the overall forex reserves increased by $226.6 million or 1.28%. Apportionment of total reserves are as – $12,565.1 million net reserves with SBP and $5,152.5 million net reserves with banks.
Last week, forex reserves held by the SBP increased by 5.1% because of the receipt of HBL privatization proceeds. Moreover, The SBP’s reserves increase because of $538 million received from multiple trading sources, including $498 million from International Monetary Fund (IMF) two weeks ago.
At the end of January 2015, reserves value was $15,162.6 million and now it is $17,17.6 million that means reserves has been raised by $2,555 million or %14.42. By the end of December 2014, reserves figure was $15,267.9 that means as compare to previous year, reserves has been raised by $2,449.7 million or 13.83%.