Foreign exchange: Reserves hit fresh peak at $18.3b

Reserves rose $67.8 million to a record high at $18.303 billion in the week ended on July 23

KARACHI: Foreign exchange reserves of the country rose $67.8 million to a record high at $18.303 billion in the week ended on July 23, according to data released by the State Bank of Pakistan (SBP) on Thursday. In the previous week, foreign reserves stood at $18.235 billion. According to breakdown of data, reserves held by the State Bank increased to $14.743 billion against $14.711 billion in the previous week while those held by banks, other than SBP, rose to $3.560 billion from $3.524 billion.

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