In a positive development, Pakistan Foriegn Exchange Reserves register increase: Report

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In a positive development, Pakistan Foriegn Exchange Reserves register increase: Report

*ISLAMABAD - Pakistan’s foreign reserves rose by $45 million by the end of last week, the State Bank of Pakistan said Thursday.*

During the week ending on November 15, the SBP said its reserves increased to $8,442.1 million, recording an increase of $45 million.

Currently, the net foreign reserves held by commercial banks stand at $7,020.2 million, the central bank said.

The country has a total of $15,462.3 million in liquid foreign reserves, it added.

Pakistan is likely to get a second tranche of $4.5 million from the International Monetary Fund soon. It would further strengthen the country’s foreign exchange reserves .

On July 3, the IMF’s Executive Board approved a 39-month arrangement under its Extended Fund Facility for Pakistan, in order to support the government’s economic reform programme.

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