The country's total liquid foreign exchange reserves soared by $404.6 million during last week supported by inflows of Coalition Support Fund (CSF). According to weekly forex report issued by the State Bank Thursday, the country's total liquid forex reserves reached $7.994 billion on February 14, 2014 compared to $7.589 billion on February 7, 2014.
During the week under review, the SBP's liquid forex reserves increased by $355.4 million to $3.197 billion compared to $2.841 billion in the previous week. The increase in the Central Bank reserves has been attributed to $406 million official inflows during the week; which included $353 million received under CSF and $53 million from multilateral and bilateral sources.
During the week, on account of external debt servicing and other official payments, the SBP made payments of $150 million from its reserves; which included $147 million paid to the International Monetary Fund (IMF) under the Stand-By Arrangement (SBA). Similarly, reserves held by banks posted an increase of $49.2 million to $4.797 billion at end of last week.
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