Pakistan foreign exchange reserves touch new highs

Pakistan foreign exchange reserves touch new highs

ISLAMABAD (APP): The total liquid foreign reserves held by the country stood at US$24,461.4 million on as on 14th October 2016, according to State Bank of Pakistan.

Pakistan foreign exchange reserves reach unprecedented levels      

The Foreign reserves held by the State Bank of Pakistan stood at US$ 19,461.7 million whereas the net foreign reserves held by commercial banks were recorded at US$ 4,999.7 million.

According to SBP notification, during the week ending October 14, 2016, country's total reserves increased by US$969 million to US$24,461 million whereas SBP's Liquid FX Reserves increased by US$1,052 million to US$19,462 million during the week.

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The increase in SBP's reserves is mainly attributed to proceeds of US$1,000 million against Pakistan Sukuk Bonds, the SBP statement said.