business

July 21, 2017

SBP’s contract obligations swell 80pc to $3.6bln in June

ISLAMABAD: The future contracts and obligations of the State Bank of Pakistan stood at $3.6 billion in June as against $2 billion a year earlier, exerting pressure on foreign exchange reserves of the country, said International Monetary Fund .  “…the SBP’s derivative position reached $3.6 billion in net obligations from $2 billion in June 2016, which could put additional pressure on reserves,” the IMF said in a report that concludes the Article IV consultation...