Forex reserves rise to $15.2bn

[LahoreEstate]

KARACHI: Pakistan’s foreign exchange reserves have increased to $15.202 billion during the week that ended on January 9, 2010, as compared to $15.031 billion last week, the State Bank of Pakistan said on Thursday.

The overall reserves showed an increase of $171 million during the week. Reserves held by the the State Bank of Pakistan stood at $11.467 billion, as compared to $11.273 billion a week earlier, showing an increase of $194 million. While reserves held by banks other than SBP stood at $3.735 billion, as compared to $3.757 billion, showing a decline of $22 million.

The central bank had received $1.2 billion from the International Monetary Fund as part of its package for Pakistan a few days back, which had shifted its burden of crude oil import payments to the Interbank market. The central bank is now boosting its reserves position, the analysts said. staff report

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