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Forex reserves crosses $15 billion mark

Pakistan's total liquid foreign exchange reserves crossed $15 billion mark last week. According to weekly foreign exchange reserves report issued by State Bank of Pakistan (SBP) on Thursday, the country's total liquid foreign exchange reserves stood at $15.213 billion as on January 2, 2015 compared to $14.945 billion a week earlier, depicting an increase of $268 million.

Although, reserves held by SBP and the banks witnessed upward trend during the week under review, however major surge was registered in the central bank's reserve. During the week ending January 2, 2015, SBP's liquid forex reserves increased by $171 million to reach $10.476 billion compared to $10.305 billion in the previous week. While, reserves held by the banks mounted by $97 million to $4.737 billion end of the week compared to $4.640 billion a week earlier.

Copyright Business Recorder, 2015