However, financial assistance from the United Arab Emirates (UAE) and Saudi Arabia helped shore up the foreign exchange reserves. On April 12, the foreign currency reserves held by the SBP were recorded at $9,243.7 million, down $1,028.2 million compared with $10,271.9 million in the previous week. Foreign exchange: SBP reserves fall $220m to stand at $10.3bThe decline was attributed to payments on account of external debt servicing, including principal repayment of $1 billion against Pakistan Sovereign Bond, the statement added. Overall, liquid foreign currency reserves, held by the country, including net reserves held by banks other than the SBP, stood at $16,195.9 million. In January last year, the SBP made a $500-million loan repayment to the State Administration of Foreign Exchange (SAFE), China.

Source: The Express Tribune April 18, 2019 16:41 UTC