In a good development, Pakistan Foreign Exchange Reserves register significant increase
KARACHI - In a good development, Pakistan Foreign Exchange Reserves register significant increase.
Foreign exchange reserves rose by $ 1 billion 27 million to reach $ 15 billion 75 million.
Foreign exchange reserves increased by $ 1 billion 27 million in the first two months of the current fiscal year, according to data released by the State Bank.
The foreign exchange reserves have now reached $ 15.75 billion. The central bank's reserves are $ 8 billion 46 million, up from $ 1.8 billion.
Economy analysts say that foreign exchange reserves are currently equivalent to two months of imports, and according to the standards of global financial institutions, reserves of any country must be equal to imports of at least 3 month