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Pakistan’s Liquid Forex Reserves at $17,749.1 million

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KARACHI: Pakistan’s total liquid foreign exchange (forex) reserves are at $17,749.1 million for the week ended on May 15, 2015 as compared to $17,739.3  million of the previous week, ended at May 18, as reported by Domestic Markets & Monetary Management Department of the State Bank of Pakistan (SBP).

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During the said period, reserves with SBP has been decreased by $38.2 million, however, reserves with other banks has been improved and increased further by $48 million.

During the week, the overall forex reserves slightly increased by $9.8 million or 0.05%. Apportionment of total reserves are as – $12,511.7 million net reserves with SBP and $5,237.4 million net reserves with banks.

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SBP’s reserves decreased because of payment made by SBP on account of external debt servicing and no major inflow was recorded. Payment made by SBP during the week was $63 million.

In April, forex reserves held by the SBP increased by 5.1% because of the receipt of HBL privatization proceeds. Moreover, The SBP’s reserves increased because of $538 million received from multiple trading sources, including $498 million from International Monetary Fund (IMF) two weeks ago.

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