Liquid forex reserves held by the State Bank of Pakistan posted a notable increase of $702 million in a week. According to weekly forex report issued by the central bank on Thursday, during last week the SBP's liquid forex reserves rose by 18 percent to $4.623 billion as on March 7, 2014 compared to $3.921 billion last week ended February 28, 2014.
The increase in the central bank reserves has been attributed to receipts from multilateral and bilateral sources. During the week under review, total official payments stood at $92 million. However, the reserves held by banks fell by $63.2 million to $4.753 billion down from $4.816 billion. The country's total liquid forex reserves registered an increase of $63.87 million to reach $9.376 billion on March 7, 2014 up from $8.737 billion on February 28, 2014.
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