Pakistan’s foreign exchange reserves rose to $17.20 billion in the week ending October 14 from $17.17 billion the previous week, the central bank said on Thursday.
Reserves held by the State Bank of Pakistan (SBP) were flat at $13.46 billion, while those held by commercial banks rose to $3.74 billion, from $3.71 billion in the previous week, according to the State Bank of Pakistan.
Foreign exchange reserves hit a record $18.31 billion in the week ending July 30 but have eased due to debt repayments.
Higher export proceeds and a record inflow of remittances have helped Pakistan’s forex reserves grow steadily.
Published in The Express Tribune, October 21st, 2011.
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