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 29th, 2011.
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 29th, 2011.