SBP receives $2.5bn in proceeds from international bonds

Author: Khurshid Ahmed

KARACHI: State Bank of Pakistan on Thursday confirmed to have received $2.5 billion on December 05, as proceeds from Pakistan sovereign bonds and Pakistan international sukuk.

During the week ending November 30, 2017, SBP’s reserves decreased by $887 million, to $12,660.5 million, due to external debt and other official payments.

However, with the payment received the foreign exchange position of the country has improved. SBP’s reserves now stand at $14,883.1 million, and total liquid foreign reserves at $20,986.4 million. Last week, Pakistan had raised $1 billion by floating sukuk of five years maturity and $1.5 billion by Eurobond of ten-year maturity. Pakistan had issued sukuk at rate of 5.625 percent and Eurobond at 6.875 percent.

The SBP said that prior to receiving payments, the total liquid foreign reserves held by the country stood at $18,744.9 million on November 30, 2017. The break-up of the foreign reserves position was as the foreign reserves held by the State Bank of Pakistan stood at $12,660.5 million; while net foreign reserves held by commercial banks stood at $6,084.4 million.

Published in Daily Times, December 8th 2017.

Share
Leave a Comment

Recent Posts

  • Editorial

Population Pakistan

Despite facing deficit in all walks of life, Pakistan has emerged as a front runner…

2 mins ago
  • Editorial

Smog Shock

It has now almost been a decade that the toxic air of Lahore has become…

2 mins ago
  • Op-Ed

Boosting Foreign Investment in Pakistan

Saudi Arabia recently increased its pledged investment in Pakistan by an additional $600 million, bringing…

4 mins ago
  • Op-Ed

Pakistan-Bangladesh business-to-business ties

In a meeting with M Hafizur Rahman, the administrator of the Federation of Bangladesh Chamber…

4 mins ago
  • Op-Ed

Indian Media Narrative regarding Communal Conflict in Bangladesh

Since the fall of the Awami League, Indian media has portrayed Bangladesh as a nation…

5 mins ago
  • Op-Ed

Human Rights Violations of Israel in Palestine

Since 1948, approximately 76 years have passed, and the brutal attacks against innocent Palestinians never…

5 mins ago