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Saturday, March 5, 2011

Pakistan s foreign exchange reserves at all time high

KARACHI : The country s foreign exchange reserves have mounted to all time high level of 17. 5 billion dollars because of high inflows of remittance and exports. The State Bank of Pakistan (SBP) on Thursday revealed that the country s liquid foreign exchange reserves have surged by 142. 8 million dollars to 17. 589 billion dollars on February 19, 2011 as compared to 17. 447 billion dollars a week earlier.
Reserves held by SBP have also post some increase and reached new peak level of 14 billion dollars. SBP reserves have mounted by 167 million dollars to 14. 08 billion dollars during last week relative of 13. 912 billion dollars on February 12, 2011. However, reserves held by banks have declined by 24. 6 million dollars to 3. 509 billion dollars during last week.

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