ISLAMABAD: Pakistan’s foreign exchange reserves rose to $15.236 billion in the week ending June 29 from $14.96 billion the previous week, the central bank said on Thursday.
Reserves held by the State Bank of Pakistan rose to $10.802 billion from $10.54 billion, while those held by commercial banks rose slightly to $4.434 billion from $4.429 billion.
Foreign exchange reserves hit a record $18.31 billion in July 2011, boosted by a $191.9 million loan from the World Bank and a $196.8 million loan from the Asian Development Bank.
Higher exports and record remittances have also supported Pakistan’s reserves.
Remittances from Pakistanis abroad rose 19.5 per cent to $12.07 billion in the first 11 months of the 2011/12 fiscal year, compared with $10.1 billion in the same period last year.
In May, remittances totalled $1.19 billion.
Pakistan’s reserves have been reduced by debt repayments of $2.53 billion in the current fiscal year.