KARACHI, March 2: The country’s foreign exchange reserves increased by $62 million to another new high of $13.343 billion in the week ending on Feb 24, the central bank said on Friday.
Reserves held by the State Bank of Pakistan (SBP) rose to $10.998 billion from $10.929 billion, however, those held by commercial banks fell marginally to $2.345bn from $2.352 billion, the central bank said in a statement.
Pakistan’s foreign exchange reserves have grown sharply in recent months, thanks to healthy remittances from overseas, as well as a rise in FDI.—Reuters
