AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Pakistan’s foreign exchange reserves have inched up by USD 46 million (up by 0.27%WoW) to USD 16.44 billion by the week ended on March 23, 2012 from USD 16.395 billion a week ago.
According to Alfalah Securities Limited, reserves held by the Central bank increased by USD 96 million to USD 11.767 billion from USD 11.671 billion in the earlier week while, reserves held by commercial banks registered a decline of USD 50 million to USD 4.674 billion against USD 4.724 bn. Alfalah Securities Limited believes a slight increase in forex reserves is short-lived and would shed further in future keeping in view the soaring debt repayments and ballooning trade deficit.