AZADPAKISTAN2009
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Pakistan’s reserves rise to $17.52bn | Business | DAWN.COM
KARACHI: Pakistans foreign exchange reserves rose to $17.52 billion in the week ending June 11 from $17.16 billion the previous week, a Central Bank official said on Thursday.
Reserves held by the State Bank of Pakistan (SBP) rose to $14.09 billion from $13.72 billion a week ago while those held by commercial banks eased slightly to $3.43bn from $3.44bn, said the SBPs chief spokesman Syed Wasimuddin.
There was an inflow of $190 million as flood aid from the United States which helped the rise in reserves, said Wasimuddin.
Pakistans forex reserves have grown steadily thanks to higher export proceeds as well as record inflow of remittances, hitting an
all-time high of $17.95 billion during the week that ended on March 26.
Reserves have since eased slightly on debt repayments. Remittances sent by overseas Pakistanis crossed $10bn for the first time, hitting $10.1 billion in the first 11 months of the 2010-11 fiscal year, an increase of 25.20pc compared with the same period last year, according to SBP data.Reuters
Pakistan’s reserves rise to $17.52bn | Business | DAWN.COM
KARACHI: Pakistans foreign exchange reserves rose to $17.52 billion in the week ending June 11 from $17.16 billion the previous week, a Central Bank official said on Thursday.
Reserves held by the State Bank of Pakistan (SBP) rose to $14.09 billion from $13.72 billion a week ago while those held by commercial banks eased slightly to $3.43bn from $3.44bn, said the SBPs chief spokesman Syed Wasimuddin.
There was an inflow of $190 million as flood aid from the United States which helped the rise in reserves, said Wasimuddin.
Pakistans forex reserves have grown steadily thanks to higher export proceeds as well as record inflow of remittances, hitting an
all-time high of $17.95 billion during the week that ended on March 26.
Reserves have since eased slightly on debt repayments. Remittances sent by overseas Pakistanis crossed $10bn for the first time, hitting $10.1 billion in the first 11 months of the 2010-11 fiscal year, an increase of 25.20pc compared with the same period last year, according to SBP data.Reuters
