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).
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.
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.