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Monday, May 20, 2024  
12 Dhul-Qadah 1445  

Forex reserves rise to $11.15bn

Forex reserves rise to $11.15bnPakistan's foreign exchange reserves rose by $70 million to $11.15 billion in the week ended April 25, the central bank said on Thursday.
The State Bank of Pakistan's reserves rose to $7.83 billion from $7.79 billion a week earlier, while reserves held by commercial banks rose to $3.32 billion from $3.29 billion, the bank said.
Foreign reserves hit a record high of $16.5 billion in October 2007 but fell to $6.6 billion in November last year, largely because of a soaring import bill.
Pakistan agreed in November to an IMF emergency loan package of $7.6 billion to avert a balance of payments crisis and shore up reserves.

Copyright Reuters, 2009

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