Pakistan's Forex Reserves Rise after Saudi Arabia places Funds with SBP
MG News | November 22, 2018 at 07:45 PM GMT+05:00
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According to data released by the State Bank of Pakistan, the total liquid foreign reserves held by the country stood at US$13,715.0 million on November 16, 2018
| Foreign reserves held by | Nov 16, 2018 | Nov 09, 2018 | Change | % Change |
|---|---|---|---|---|
| State Bank of Pakistan | 7,286.50 | 7,482.90 | -196.40 | -2.62% |
| Net Foreign Reserves Held by Banks | 6,428.50 | 6,349.10 | 79.40 | 1.25% |
| Total Liquid Foreign Reserves | 13,715.00 | 13,832.00 | -117.00 | -0.85% |
Amount in USD Million
SBP’s reserves decreased due to external debt servicing and other official payments.
SBP received US$ 1,000 million on November 19, 2018 as placement of funds by Saudi Arabia, after which SBP’s reserves stood at US$8,293.9 million and total liquid foreign reserves at US$14,722.4 million.
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