Economics & Business

Forex reserves at $18.107 bln – SBP

KARACHI: The foreign exchange reserves have declined by dollars 140 million to dollars 18.107 billion, according to a statement of the Central Bank issued here on Thursday.

The statement said that the foreign exchange reserves held by SBP were 14.638 billion dollars and that held by other banks were 3.46 billion as on July 9. The reserves had touched record high levels of dollars 18.247 billion in the week ending July 2.

The reserves held by the central bank during the week ended July 9, reduced by $148 million to $14.638 billion from previous figures of $14.786 billion. The reserves held by commercial banks ended almost flat at $3.469 billion from the level of $3.46 billion a week ago. The country received five tranches under the agreement and remaining amount is linked to imposition of reformed General Sales Tax. The country received around $7.3 billion in five tranches and last tranche worth $1.13 billion was received in May 2010.

About the author

Saleem Shaikh

The writer is a development journalist. He writes on water, sanitation, environment, climate change, agriculture, women development, human rights, education, health, development budgets and economy.

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