AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, October 30, 2012 (PPI-OT): Pakistan’s foreign exchange reserves have increased by USD 70 million to USD 14.389 billion during the week ended October 19 as against USD 14.319 billion in the preceding week.
According to Alfalah Securities Limited, the reserves of State Bank of Pakistan (SBP) inched up by USD 15 million to USD 9.829 billion as compared to USD 9.814 billion last week while the reserves held by commercial banks surged by USD 55 million to USD 4.560 billion from USD 4.505 billion in the previous week. The hike in reserves is mainly attributed to higher inflows of remittances sent by expatriated to their families ahead of Eid Celebrations.