Business

Rise in Pakistan's foreign exchange reserves

Express May 06, 2010

KARACHI:

Pakistan's foreign exchange reserves rose above $15 billion in the week ending on April 30, 2010.

Reserves held by the State Bank of Pakistan rose above $11 billion. Meanwhile reserves held by commercial banks have slightly eased to $3.8 billion.

The increase in reserves of the State Bank is mainly due to the $188 million received from the US last week. An additional $468 million were received this week and will be included in the Reserve figures next week.

The US embassy has released $656 million as coalition support fund for costs incurred in fighting militancy.

COMMENTS (2)

Ali Haider | 14 years ago | Reply Is all the aid that is coming in also counted in as Foreign reserve?

Meekal Ahmed | 14 years ago | Reply Gross foreign exchange reserves will rise in the period ahead as more external inflows come in. But we should not take false comfort from their level. The economy is growing well below its trend and the trade and current account deficit and foreign exchange reserves mirror that fact. As soon as the economy picks up steam these reserves will start to come under pressure unless our exports do well relative to imports and remittances and other capital inflows keep pace. None of that is assured.

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