State Bank of Pakistan foreign exchange reserves cross $13 billion mark
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The foreign exchange reserves of the State Bank of Pakistan (SBP) have once again touched the $13 billion mark.
According to the data released by the SBP, the central bank received inflows of $38 million in the week ending on March 5. With the addition of the inflows, the reserves of the central bank stood at $13.01 billion. ------------------------------
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The reserves held by the commercial banks stood at $7.14 billion. Hence, the overall reserves surged to $20.15 billion by the week ending March 05. ------------------------------
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Experts forecast a further increase in the reserves owing to the banking regulator’s revision of the profit rate of the Pakistan Investment Bonds (PIBs), which is likely to attract foreign investment.
