KARACHI, June 9: The country’s foreign exchange reserves crossed $15 billion mark after the inclusion of latest inflows of the Euro Bonds.
The State Bank issued a statement on Saturday carrying announcement of the SBP governor, Dr. Shamshad Akhtar, saying the country’s foreign exchange reserves have reached the historic level of over 15 billion dollars.
According to the break-up, Pakistan’s foreign exchange reserves rose by $1,242.8 million to reach the landmark level of $15,030.1 million for the week ending June 9.
Reserves held by the State Bank increased by $1,062.1 million to $12,649.8 million, while those held by commercial banks increased by $180.7 million to $2,380.3 million during the current week.
During the current fiscal year 2006-07, Pakistan’s gross foreign exchange reserves rose by $1,893.2 million over June 30, 2006, closing of $13,136.9 million, the governor’s statement said.
The sudden rise in reserves was made possible after the inflow of $750 million from the Euro Bonds.
