Forex reserves rise to $18. 04 b

Last Updated on Tuesday, 30 November 1999 05:00 Friday, 19 August 2011 10:22

Economic Updates - Pak Major Financial News

KARACHI (Reuters) - Pakistan s foreign exchange reserves rose to $18. 04 billion in the week ending Aug. 13, from $17. 97 billion the previous week, a senior State Bank official said on Thursday.

Reserves held by the State Bank of Pakistan (SBP) rose to $14. 55 billion from $14. 46 billion a week ago, while those held by commercial banks fell to $3. 49 billion from $3. 51 billion, said SBP chief spokesman Syed Wasimuddin. Foreign exchange reserves hit a record $18. 31 billion in the week ending July 30.

Pakistan s foreign exchange reserves were boosted in June by inflows of $411 million, including a loan of $191. 9 million from the World Bank, and another loan of $196. 8 million from the ADB.

Courtesy: Nation