Forex: Currency reserves rise to $9.207 billion
Reserves held by the SBP increased to $4.075 billion from $3.953 billion a week earlier.
APP
October 21, 2013
Less than a minute read
KARACHI:
Foreign exchange reserves increased to $9.207 billion as of October 11, compared to $9.128 billion in the previous week, according to a statement of the State Bank of Pakistan (SBP) on Monday. Reserves held by the SBP increased to $4.075 billion from $3.953 billion a week earlier, while those held by commercial banks decreased to $5.131 billion as compared to $5.174 billion a week earlier. Pakistan made its last payment of $260 million in the Stand-By-Arrangement to the IMF on June 28, 2013. Meanwhile, exports and record remittances have supported Pakistan’s reserves. Monthly average of remittances for July-May this fiscal year came to $1.160 billion compared to $1.097 billion in the same period a year ago.
Published in The Express Tribune, October 22nd, 2013.
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