*ISLAMABAD – Pakistan’s foreign reserves rose by $45 million by the end oflast week, the State Bank of Pakistan said Thursday.*
During the week ending on November 15, the SBP said its reserves increasedto $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, itadded.
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Pakistan is likely to get a second tranche of $4.5 million from theInternational Monetary Fund soon. It would further strengthen the country’sforeign exchange reserves.
On July 3, the IMF’s Executive Board approved a 39-month arrangement underits Extended Fund Facility for Pakistan, in order to support thegovernment’s economic reform programme.
