Reserves
held by the State Bank of Pakistan
fell to $11.117 billion from $11.243 billion, while those held by commercial
banks rose slightly to $4.3 billion from $4.293 billion.
Foreign
exchange reserves hit a record $18.31 billion in July last year, 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 19.54 percent 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 $1.192 billion.
No comments:
Post a Comment