Pakistans Liquid FX Reserves at USD 21.55 Billion

MG News | April 06, 2017 at 06:51 PM GMT+05:00

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According to figures released by the Central Bank, The total liquid foreign reserves held by the country stood at US$ 21,550.50 million on Mar 31, 2017.

Summary of Holding and Weekly Change
Foreign reserves held by	Mar 31, 2017	Mar 24, 2017	Change	% Change
State Bank of Pakistan	16,466.10	16,730.30	-264.20	-1.58%
Net Foreign Reserves Held by Banks	5,084.40	5,065.60	18.80	0.37%
Total Liquid Foreign Reserves	21,550.50	21,795.90	-245.40	-1.13%

According to the SBP, the decrease is mainly attributed to external debt servicing and other official payments.

The foreign exchange reserves have declined sharply and, in the last six months or so, registered a drop of nearly $2.425 billion. The falling reserves have been exerting pressure on the current account deficit as it has been almost doubled in the eight months (till March) to nearly $5.4 billion as compared to same period last year. However, the finance ministry and State Bank of Pakistan have kept a vigilant eye on the PKR movement against dollar. The rupee since long oscillating between Rs 104.80 to Rs 104.85 at the interbank, while at the open market it has been trading between Rs 106.40 to Rs 106.60 to a dollar currently.

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