Pakistan’s liquid foreign reserves increased to $17.38 billion in the week ended April 16 compared to $17.31 billion a week ago, according to data released by the central bank on Thursday.
Reserves held by the State Bank of Pakistan (SBP) stood at $13.91 billion, slightly down from $13.93 billion a week earlier, while reserves held by commercial banks rose to $3.47 billion from last week’s $3.38 billion. The reserves increased in the wake of rising home remittances and export receipts, say analysts.
Forex reserves have grown steadily owing to higher export proceeds as well as record inflow of remittances.
Published in The Express Tribune, April 22nd, 2011.
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