SBP announces liquid foreign reserves position

December 26, 2013 Off By Web Desk

KARACHI: State Bank of Pakistan (SBP) on Thursday announced Pakistan’s liquid foreign reserves position. It said the total liquid foreign reserves held by the country stood at $8,090.2 million on 20 December 2013. The break-up of the foreign reserves position is as foreign reserves held by SBP are $3,192.9 million; net foreign reserves held by banks (other than SBP) is $4,897.3 million and total liquid foreign reserves are $8,090.2 million.

During the week ending 20 Dec 2013, SBP’s Liquid FX Reserves decreased by $275 million to $3,193 million compared to $3,468 million in the previous week. The decrease in the Central Bank reserves is mainly due to payments of $185 million, of which external debt servicing was $162 million inclusive of $58 million repayment to IMF and other official payments equal to $23 million. During the week, there was no major inflow from multilateral and bilateral sources.

On the successful completion of first review, disbursement of the second tranche of Extended Fund Facility of $554 million has been received on 23Dec2013 and will be reported in the next week reserve position.