Forex: Reserves rise to $14.86b from $14.83b

KARACHI: Pakistan’s foreign exchange reserves rose to $14.86 billion in the week ending September 20, from $14.83 billion the previous week, the central bank said on Thursday. Reserves held by the State Bank of Pakistan fell to $10.38 billion from $10.43 billion a week earlier, while those held by commercial banks jumped to $4.50 billion from $4.40 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.

Published in The Express Tribune, September 21^st, 2012.