Forex: Reserves ease to $17.18b

Foreign exchange reserves down to $17.18 billion from $17.38 billion a week ago.

KARACHI: Foreign exchange reserves eased to $17.18 billion in the week ended April 23 compared with $17.38 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 $13.68 billion, down from $13.91 billion a week earlier, while reserves held by commercial banks rose to $3.5 billion from last week’s $3.47 billion. Forex reserves have grown steadily in recent weeks owing to higher export proceeds as well as record inflow of remittances.



Published in The Express Tribune, April 29^th, 2011.