Forex: Reserves rise to $14.83b from $14.82b

Foreign exchange reserves hit a record $18.31 billion in July last year, boosted by inflows of $411 million.


Ppi September 13, 2012

KARACHI: Pakistan’s foreign exchange reserves rose to $14.83 billion in the week ending September 7, from $14.82 billion the previous week, the central bank said on Thursday. Reserves held by the State Bank of Pakistan rose to $10.43 billion from $10.39 billion a week earlier, while those held by commercial banks dropped to $4.40 billion from $4.43 billion. Foreign exchange reserves hit a record $18.31 billion in July last year, boosted by inflows of $411 million, including a $191.9 million loan from the World Bank and a $196.8 million loan from the Asian Development Bank. Higher exports and record remittances have also supported Pakistan’s reserves over the past year. Pakistan’s reserves have been drained by debt repayments, including repayments for an International Monetary Fund loan.

Published in The Express Tribune, September 14th, 2012.

COMMENTS

Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ