Pakistan’s foreign exchange reserves reach $16.6 billion

KARACHI (September 24 2010): The country’s liquid foreign exchange reserves reached $16.6 billion mark with an increase of some $559 million during last week. This surge has occurred after the payment of some $451 million on last Friday from the International Monetary Fund on account of Emergency Natural Disaster Assistance (ENDA) for flood victims.

The central bank on Thursday issued the latest statistics of liquid forex reserves, which depict an increase of $559.2 million in overall reserves from $16.073 billion to $16.632 billion during last week ended September 17, 2010. During last week, forex reserves held by the central bank rose by $445.7 million to $12.7942 billion from $12.3485 billion. Reserves held by banks also moved up by $113.5 million to $3.8383 billion during last week as compared to $3.724 billion a week earlier – Brecorder